First Trust Expanded Technology ETF (NYSEARCA:XPND) Sees Large Decline in Short Interest

First Trust Expanded Technology ETF (NYSEARCA:XPND) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 2,002 shares, a decline of 40.6% from the May 14th total of 3,370 shares. Based on an average daily volume of 2,051 shares, the short-interest ratio is presently 1.0 days. Currently, 0.2% of the company’s shares are sold short.

First Trust Expanded Technology ETF Trading Up 2.7%

XPND stock traded up $1.10 during trading on Monday, reaching $41.47. 3,100 shares of the stock were exchanged, compared to its average volume of 9,102. The business has a 50 day moving average price of $38.14 and a 200-day moving average price of $36.18. First Trust Expanded Technology ETF has a 1 year low of $31.65 and a 1 year high of $42.34. The firm has a market capitalization of $41.47 million, a price-to-earnings ratio of 32.72 and a beta of 1.26.

Hedge Funds Weigh In On First Trust Expanded Technology ETF

A number of institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors raised its stake in First Trust Expanded Technology ETF by 3.9% during the fourth quarter. Arkadios Wealth Advisors now owns 9,721 shares of the company’s stock worth $351,000 after purchasing an additional 368 shares during the period. Clear Creek Financial Management LLC raised its stake in 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 purchasing an additional 400 shares during the period. Foundations Investment Advisors LLC raised its stake in First Trust Expanded Technology ETF by 4.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 10,422 shares of the company’s stock worth $376,000 after purchasing an additional 490 shares during the period. Kestra Private Wealth Services LLC raised its stake in First Trust Expanded Technology ETF by 6.8% during the third quarter. Kestra Private Wealth Services LLC now owns 8,562 shares of the company’s stock worth $311,000 after purchasing an additional 545 shares during the period. Finally, &PARTNERS raised its stake in First Trust Expanded Technology ETF by 5.7% during the fourth quarter. &PARTNERS now owns 10,159 shares of the company’s stock worth $367,000 after purchasing an additional 550 shares during the period.

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.