First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Down 38.0% in February

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 65,400 shares, a decrease of 38.0% from the February 13th total of 105,400 shares. Based on an average daily trading volume, of 75,800 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Several institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings in First Trust Nasdaq Bank ETF by 457.8% in the fourth quarter. Cetera Investment Advisers now owns 111,062 shares of the company’s stock valued at $3,533,000 after buying an additional 91,152 shares in the last quarter. Bank of America Corp DE boosted its position in First Trust Nasdaq Bank ETF by 79.8% during the fourth quarter. Bank of America Corp DE now owns 209,902 shares of the company’s stock worth $6,677,000 after purchasing an additional 93,149 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in First Trust Nasdaq Bank ETF in the fourth quarter valued at approximately $889,000. BNP Paribas Financial Markets purchased a new stake in shares of First Trust Nasdaq Bank ETF in the fourth quarter valued at approximately $1,590,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of First Trust Nasdaq Bank ETF by 1,720.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 70,897 shares of the company’s stock worth $2,268,000 after buying an additional 67,003 shares during the period.

First Trust Nasdaq Bank ETF Price Performance

FTXO stock traded up $0.86 during trading on Friday, hitting $29.88. 105,014 shares of the company traded hands, compared to its average volume of 42,968. First Trust Nasdaq Bank ETF has a 1 year low of $24.72 and a 1 year high of $35.58. The company has a market cap of $204.68 million, a PE ratio of 13.83 and a beta of 1.11. The stock’s 50-day simple moving average is $32.88 and its 200 day simple moving average is $31.85.

First Trust Nasdaq Bank ETF Company Profile

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.