Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Expands By 1,350.0%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,900 shares, a growth of 1,350.0% from the July 15th total of 200 shares. Based on an average trading volume of 27,200 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Nasdaq Bank ETF Price Performance

Shares of FTXO stock opened at $27.46 on Wednesday. The company has a fifty day moving average price of $27.23 and a two-hundred day moving average price of $26.40. First Trust Nasdaq Bank ETF has a one year low of $18.94 and a one year high of $30.06. The stock has a market cap of $104.34 million, a P/E ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a $0.2216 dividend. This is an increase from First Trust Nasdaq Bank ETF’s previous dividend of $0.11. The ex-dividend date of this dividend was Thursday, June 27th.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

A number of institutional investors have recently bought and sold shares of FTXO. Principal Securities Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the 4th quarter worth approximately $33,000. Larson Financial Group LLC lifted its holdings in First Trust Nasdaq Bank ETF by 575.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,337 shares of the company’s stock valued at $35,000 after purchasing an additional 1,139 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in First Trust Nasdaq Bank ETF during the second quarter worth $48,000. International Assets Investment Management LLC acquired a new position in shares of First Trust Nasdaq Bank ETF in the second quarter valued at $98,000. Finally, D.A. Davidson & CO. bought a new position in shares of First Trust Nasdaq Bank ETF in the fourth quarter valued at about $217,000.

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.