Short Interest in First Trust Natural Gas ETF (NYSEARCA:FCG) Drops By 74.3%

First Trust Natural Gas ETF (NYSEARCA:FCG) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 159,937 shares, a drop of 74.3% from the April 30th total of 621,883 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 947,870 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Natural Gas ETF Stock Performance

Shares of NYSEARCA FCG traded down $0.28 during trading on Friday, reaching $28.52. The stock had a trading volume of 785,462 shares, compared to its average volume of 1,257,741. First Trust Natural Gas ETF has a fifty-two week low of $21.76 and a fifty-two week high of $33.03. The business’s 50-day moving average price is $30.38 and its 200-day moving average price is $27.00. The company has a market cap of $711.57 million, a P/E ratio of 10.55 and a beta of 0.49.

Hedge Funds Weigh In On First Trust Natural Gas ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC acquired a new position in First Trust Natural Gas ETF during the 1st quarter worth approximately $60,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of First Trust Natural Gas ETF during the 1st quarter worth $114,000. Guardian Partners Inc. increased its holdings in shares of First Trust Natural Gas ETF by 451.8% during the 1st quarter. Guardian Partners Inc. now owns 511,001 shares of the company’s stock worth $16,240,000 after buying an additional 418,401 shares during the last quarter. Royal Bank of Canada increased its holdings in First Trust Natural Gas ETF by 124.1% in the 1st quarter. Royal Bank of Canada now owns 462,206 shares of the company’s stock valued at $14,646,000 after purchasing an additional 255,916 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in First Trust Natural Gas ETF by 841.5% in the 1st quarter. Renaissance Technologies LLC now owns 99,800 shares of the company’s stock valued at $3,163,000 after purchasing an additional 89,200 shares in the last quarter.

First Trust Natural Gas ETF Company Profile

First Trust ISE-Revere Natural Gas Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE-REVERE Natural Gas Index (the Index). The Index is an equal-weighted index consisting of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the universe of stocks listed in the United States of companies involved in the natural gas exploration and production industries and then eliminates stocks whose natural gas-proven reserves do not meet certain requirements.