First Trust Indxx Medical Devices ETF (BATS:MDEV) Sees Significant Decline in Short Interest

First Trust Indxx Medical Devices ETF (BATS:MDEV) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 140 shares, a drop of 90.2% from the August 15th total of 1,429 shares. Based on an average daily trading volume, of 978 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust Indxx Medical Devices ETF

A hedge fund recently raised its position in First Trust Indxx Medical Devices ETF stock. Jane Street Group LLC raised its position in shares of First Trust Indxx Medical Devices ETF (BATS:MDEV) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,956 shares of the company’s stock after purchasing an additional 5,682 shares during the period. Jane Street Group LLC owned 28.96% of First Trust Indxx Medical Devices ETF worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

First Trust Indxx Medical Devices ETF Stock Performance

MDEV stock traded down $0.37 during mid-day trading on Thursday, hitting $19.98. The company had a trading volume of 1,757 shares, compared to its average volume of 1,425. The firm has a market cap of $2.00 million, a PE ratio of 29.75 and a beta of 1.05. First Trust Indxx Medical Devices ETF has a 12 month low of $17.85 and a 12 month high of $21.82. The stock’s fifty day moving average price is $20.53 and its two-hundred day moving average price is $19.60.

First Trust Indxx Medical Devices ETF Company Profile

The First Trust Indxx Global Medical Devices ETF (MDEV) is an exchange-traded fund that is based on the Indxx Global Medical Equipment index. The fund tracks an equal-weighted index that gives global exposure to the medical equipment industry. MDEV was launched on Jun 22, 2021 and is managed by First Trust.