Short Interest in First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Drops By 80.0%

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 100 shares, a drop of 80.0% from the August 31st total of 500 shares. Based on an average trading volume of 4,000 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Nasdaq Transportation ETF Stock Performance

FTXR stock traded up $0.28 during trading on Friday, reaching $32.25. The company had a trading volume of 3,725 shares, compared to its average volume of 4,370. First Trust Nasdaq Transportation ETF has a twelve month low of $24.76 and a twelve month high of $33.28. The company has a market cap of $38.70 million, a price-to-earnings ratio of 16.14 and a beta of 1.37. The firm has a 50-day simple moving average of $30.70 and a 200-day simple moving average of $30.88.

First Trust Nasdaq Transportation ETF Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 26th will be given a $0.1284 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.59%. This is an increase from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 26th.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTXR. Benjamin F. Edwards & Company Inc. increased its holdings in shares of First Trust Nasdaq Transportation ETF by 2.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 28,599 shares of the company’s stock valued at $921,000 after purchasing an additional 563 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in First Trust Nasdaq Transportation ETF by 6.3% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 14,052 shares of the company’s stock worth $453,000 after buying an additional 827 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in First Trust Nasdaq Transportation ETF in the 2nd quarter worth approximately $223,000.

First Trust Nasdaq Transportation ETF Company Profile

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.