Short Interest in First Trust Expanded Technology ETF (NYSEARCA:XPND) Declines By 46.1%

First Trust Expanded Technology ETF (NYSEARCA:XPND) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 4,112 shares, a drop of 46.1% from the April 15th total of 7,625 shares. Based on an average daily volume of 2,546 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Ferguson Shapiro LLC raised its position in First Trust Expanded Technology ETF by 12.0% in the first quarter. Ferguson Shapiro LLC now owns 530,624 shares of the company’s stock valued at $17,418,000 after purchasing an additional 56,962 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of First Trust Expanded Technology ETF by 9.5% during the third quarter. Integrated Wealth Concepts LLC now owns 154,647 shares of the company’s stock worth $5,612,000 after acquiring an additional 13,381 shares during the last quarter. HighTower Advisors LLC increased its position in shares of First Trust Expanded Technology ETF by 18.4% during the fourth quarter. HighTower Advisors LLC now owns 35,861 shares of the company’s stock worth $1,295,000 after acquiring an additional 5,569 shares during the last quarter. Clear Creek Financial Management LLC increased its position in shares of First Trust Expanded Technology ETF by 2.9% during the third quarter. Clear Creek Financial Management LLC now owns 14,125 shares of the company’s stock worth $513,000 after acquiring an additional 400 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of First Trust Expanded Technology ETF by 26.1% during the third quarter. Envestnet Asset Management Inc. now owns 11,969 shares of the company’s stock worth $434,000 after acquiring an additional 2,478 shares during the last quarter.

First Trust Expanded Technology ETF Trading Down 1.0%

NYSEARCA:XPND traded down $0.40 during mid-day trading on Friday, hitting $38.79. The company had a trading volume of 1,496 shares, compared to its average volume of 10,469. The business has a fifty day simple moving average of $35.37 and a 200-day simple moving average of $35.67. First Trust Expanded Technology ETF has a 1 year low of $30.70 and a 1 year high of $39.28. The firm has a market capitalization of $38.79 million, a price-to-earnings ratio of 32.72 and a beta of 1.25.

About First Trust Expanded Technology ETF

The First Trust Expanded Technology ETF (XPND) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in US stocks whose businesses are derived from or dependent on technology. XPND was launched on Jun 14, 2021 and is managed by First Trust.