First Trust Expanded Technology ETF (NYSEARCA:XPND) Sees Large Decline in Short Interest

First Trust Expanded Technology ETF (NYSEARCA:XPND) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 2,002 shares, a drop of 40.6% from the May 14th total of 3,370 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,051 shares, the short-interest ratio is currently 1.0 days.

First Trust Expanded Technology ETF Stock Performance

Shares of NYSEARCA:XPND traded up $1.10 during midday trading on Monday, hitting $41.47. The company’s stock had a trading volume of 3,100 shares, compared to its average volume of 9,102. The business’s 50 day simple moving average is $38.14 and its 200 day simple moving average is $36.18. The company has a market cap of $41.47 million, a P/E ratio of 32.72 and a beta of 1.26. First Trust Expanded Technology ETF has a 12-month low of $31.65 and a 12-month high of $42.34.

Hedge Funds Weigh In On First Trust Expanded Technology ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc purchased a new position in shares of First Trust Expanded Technology ETF in the third quarter worth about $38,000. Advisory Services Network LLC purchased a new position in shares of First Trust Expanded Technology ETF in the third quarter worth about $45,000. Raymond James Financial Inc. purchased a new position in shares of First Trust Expanded Technology ETF in the second quarter worth about $71,000. International Assets Investment Management LLC purchased a new position in shares of First Trust Expanded Technology ETF in the fourth quarter worth about $103,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of First Trust Expanded Technology ETF in the fourth quarter worth about $147,000.

About First Trust Expanded Technology ETF

The First Trust Expanded Technology ETF (XPND) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in US stocks whose businesses are derived from or dependent on technology. XPND was launched on Jun 14, 2021 and is managed by First Trust.