Short Interest in First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Drops By 60.7%

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,100 shares, a decline of 60.7% from the September 30th total of 2,800 shares. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Nasdaq Oil & Gas ETF Trading Up 0.1 %

Shares of First Trust Nasdaq Oil & Gas ETF stock traded up $0.04 on Friday, hitting $29.59. 21,406 shares of the company traded hands, compared to its average volume of 54,102. First Trust Nasdaq Oil & Gas ETF has a 52 week low of $26.60 and a 52 week high of $33.72. The company has a market cap of $173.10 million, a PE ratio of 6.47 and a beta of 1.44. The stock’s 50 day moving average price is $29.76 and its 200-day moving average price is $30.59.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a $0.203 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.81 annualized dividend and a dividend yield of 2.74%.

Institutional Investors Weigh In On First Trust Nasdaq Oil & Gas ETF

Several hedge funds have recently modified their holdings of FTXN. International Assets Investment Management LLC raised its position in shares of First Trust Nasdaq Oil & Gas ETF by 7,106.9% in the 3rd quarter. International Assets Investment Management LLC now owns 4,163,701 shares of the company’s stock worth $127,214,000 after acquiring an additional 4,105,927 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in First Trust Nasdaq Oil & Gas ETF by 5.2% in the second quarter. Commonwealth Equity Services LLC now owns 167,516 shares of the company’s stock worth $5,170,000 after purchasing an additional 8,234 shares in the last quarter. Cetera Investment Advisers raised its holdings in First Trust Nasdaq Oil & Gas ETF by 182.4% in the first quarter. Cetera Investment Advisers now owns 119,419 shares of the company’s stock worth $3,857,000 after purchasing an additional 77,133 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 176.5% in the 2nd quarter. Truist Financial Corp now owns 101,178 shares of the company’s stock valued at $3,122,000 after buying an additional 64,583 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of First Trust Nasdaq Oil & Gas ETF by 67.6% in the 1st quarter. Cetera Advisors LLC now owns 52,737 shares of the company’s stock worth $1,703,000 after buying an additional 21,272 shares during the last quarter.

About First Trust Nasdaq Oil & Gas ETF

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.