First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Significant Growth in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 71,079 shares, an increase of 70.8% from the August 15th total of 41,625 shares. Based on an average daily trading volume, of 88,094 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FTXO. Tucker Asset Management LLC increased its position in shares of First Trust Nasdaq Bank ETF by 18.8% in the 2nd quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock worth $64,000 after purchasing an additional 245 shares during the last quarter. HBW Advisory Services LLC raised its stake in shares of First Trust Nasdaq Bank ETF by 2.6% in the 1st quarter. HBW Advisory Services LLC now owns 16,277 shares of the company’s stock valued at $589,000 after purchasing an additional 414 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 0.8% during the first quarter. Kestra Advisory Services LLC now owns 62,695 shares of the company’s stock worth $2,268,000 after purchasing an additional 481 shares during the last quarter. IFP Advisors Inc lifted its position in shares of First Trust Nasdaq Bank ETF by 2.2% during the second quarter. IFP Advisors Inc now owns 32,378 shares of the company’s stock worth $1,338,000 after purchasing an additional 705 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in First Trust Nasdaq Bank ETF in the first quarter worth about $30,000.

First Trust Nasdaq Bank ETF Stock Down 2.9%

Shares of First Trust Nasdaq Bank ETF stock traded down $1.21 during trading hours on Wednesday, hitting $40.59. The company’s stock had a trading volume of 185,276 shares, compared to its average volume of 492,692. The business has a fifty day moving average of $42.39 and a 200 day moving average of $39.74. First Trust Nasdaq Bank ETF has a 1-year low of $32.90 and a 1-year high of $44.12. The company has a market capitalization of $286.57 million, a PE ratio of 11.56 and a beta of 0.88.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a $0.2572 dividend. The ex-dividend date was Thursday, June 25th. This represents a $1.03 annualized dividend and a yield of 2.5%. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

About First Trust Nasdaq Bank ETF

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.