First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSEARCA:CRPT) Short Interest Down 56.2% in March

First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSEARCA:CRPT) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 55,360 shares, a decrease of 56.2% from the March 15th total of 126,298 shares. Based on an average daily trading volume, of 83,608 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s shares are sold short.

First Trust SkyBridge Crypto Industry and Digital Economy ETF Stock Performance

NYSEARCA:CRPT traded up $0.66 during midday trading on Tuesday, reaching $13.56. 51,724 shares of the stock traded hands, compared to its average volume of 86,846. The company has a fifty day moving average of $12.62 and a 200 day moving average of $16.41. First Trust SkyBridge Crypto Industry and Digital Economy ETF has a 12 month low of $10.74 and a 12 month high of $25.90. The stock has a market capitalization of $101.70 million, a P/E ratio of -148.33 and a beta of 3.23.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new position in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF in the fourth quarter worth about $26,000. CWM LLC raised its stake in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF by 88.0% in the third quarter. CWM LLC now owns 2,765 shares of the company’s stock worth $62,000 after buying an additional 1,294 shares during the period. Truvestments Capital LLC raised its stake in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF by 1,351.7% in the fourth quarter. Truvestments Capital LLC now owns 6,460 shares of the company’s stock worth $97,000 after buying an additional 6,015 shares during the period. Advisory Services Network LLC bought a new position in shares of First Trust SkyBridge Crypto Industry and Digital Economy ETF in the third quarter worth about $152,000. Finally, Elevation Point Wealth Partners LLC increased its stake in First Trust SkyBridge Crypto Industry and Digital Economy ETF by 36.9% in the 3rd quarter. Elevation Point Wealth Partners LLC now owns 9,037 shares of the company’s stock worth $201,000 after buying an additional 2,437 shares in the last quarter.

About First Trust SkyBridge Crypto Industry and Digital Economy ETF

The First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in companies supporting the crypto industry and the digital economy around the world. CRPT was launched on Sep 20, 2021 and is managed by First Trust.