Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Declines By 72.6%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 16,500 shares, a decline of 72.6% from the November 30th total of 60,200 shares. Based on an average daily trading volume, of 47,600 shares, the days-to-cover ratio is presently 0.3 days.

First Trust Nasdaq Bank ETF Stock Performance

FTXO traded up $0.18 during midday trading on Thursday, hitting $32.36. The stock had a trading volume of 8,613 shares, compared to its average volume of 37,029. First Trust Nasdaq Bank ETF has a 1 year low of $23.61 and a 1 year high of $35.58. The business has a fifty day moving average of $32.81 and a 200 day moving average of $29.76. The company has a market cap of $110.02 million, a P/E ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.1864 dividend. The ex-dividend date is Friday, December 13th.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. lifted its stake in First Trust Nasdaq Bank ETF by 7.9% in the third quarter. D.A. Davidson & CO. now owns 8,154 shares of the company’s stock worth $237,000 after purchasing an additional 600 shares during the last quarter. Wagner Wealth Management LLC lifted its stake in shares of First Trust Nasdaq Bank ETF by 0.6% in the 3rd quarter. Wagner Wealth Management LLC now owns 167,065 shares of the company’s stock valued at $4,858,000 after acquiring an additional 915 shares during the last quarter. Larson Financial Group LLC boosted 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 acquiring an additional 1,139 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in First Trust Nasdaq Bank ETF during the 2nd quarter worth approximately $48,000. Finally, Janney Montgomery Scott LLC increased its stake in First Trust Nasdaq Bank ETF by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 77,319 shares of the company’s stock worth $2,248,000 after purchasing an additional 2,144 shares during the period.

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.