Short Interest in First Trust Natural Gas ETF (NYSEARCA:FCG) Drops By 74.3%

First Trust Natural Gas ETF (NYSEARCA:FCG) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 159,937 shares, a drop of 74.3% from the April 30th total of 621,883 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 947,870 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On First Trust Natural Gas ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCG. Gendell Jeffrey L boosted its holdings in First Trust Natural Gas ETF by 396.8% in the fourth quarter. Gendell Jeffrey L now owns 943,874 shares of the company’s stock worth $22,096,000 after purchasing an additional 753,874 shares in the last quarter. Financial Sense Advisors Inc. increased its stake in First Trust Natural Gas ETF by 370.7% in the third quarter. Financial Sense Advisors Inc. now owns 536,663 shares of the company’s stock valued at $12,606,000 after acquiring an additional 422,638 shares during the period. Guardian Partners Inc. increased its stake in First Trust Natural Gas ETF by 451.8% in the first quarter. Guardian Partners Inc. now owns 511,001 shares of the company’s stock valued at $16,240,000 after acquiring an additional 418,401 shares during the period. Royal Bank of Canada increased its holdings in shares of First Trust Natural Gas ETF by 124.1% during the first quarter. Royal Bank of Canada now owns 462,206 shares of the company’s stock worth $14,646,000 after buying an additional 255,916 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of First Trust Natural Gas ETF during the third quarter worth approximately $5,905,000.

First Trust Natural Gas ETF Price Performance

NYSEARCA:FCG traded down $0.28 during mid-day trading on Friday, reaching $28.52. The stock had a trading volume of 785,462 shares, compared to its average volume of 1,257,741. The stock’s 50 day simple moving average is $30.38 and its two-hundred day simple moving average is $27.00. First Trust Natural Gas ETF has a 1-year low of $21.76 and a 1-year high of $33.03. The company has a market capitalization of $711.57 million, a price-to-earnings ratio of 10.55 and a beta of 0.49.

About First Trust Natural Gas ETF

First Trust ISE-Revere Natural Gas Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE-REVERE Natural Gas Index (the Index). The Index is an equal-weighted index consisting of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the universe of stocks listed in the United States of companies involved in the natural gas exploration and production industries and then eliminates stocks whose natural gas-proven reserves do not meet certain requirements.