First Trust Global Wind Energy ETF (NYSEARCA:FAN) Sees Large Drop in Short Interest

First Trust Global Wind Energy ETF (NYSEARCA:FAN) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 32,723 shares, a drop of 60.6% from the June 30th total of 83,154 shares. Based on an average trading volume of 95,157 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the company’s stock are short sold.

First Trust Global Wind Energy ETF Stock Down 1.4%

FAN traded down $0.33 on Wednesday, reaching $22.96. The company’s stock had a trading volume of 31,604 shares, compared to its average volume of 77,568. The stock has a 50 day moving average of $24.89 and a two-hundred day moving average of $24.41. The company has a market capitalization of $268.63 million, a price-to-earnings ratio of 19.71 and a beta of 0.84. First Trust Global Wind Energy ETF has a fifty-two week low of $18.14 and a fifty-two week high of $27.30.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FAN. Western Wealth Management LLC acquired a new stake in First Trust Global Wind Energy ETF during the 1st quarter worth $34,000. Castleark Management LLC raised its holdings in shares of First Trust Global Wind Energy ETF by 85.4% in the first quarter. Castleark Management LLC now owns 39,412 shares of the company’s stock valued at $975,000 after buying an additional 18,150 shares during the last quarter. Signature Equity Partners LLC boosted its stake in shares of First Trust Global Wind Energy ETF by 121.7% during the first quarter. Signature Equity Partners LLC now owns 4,204 shares of the company’s stock worth $104,000 after buying an additional 2,308 shares during the period. Forty three Eighteen Advisors LLC acquired a new stake in shares of First Trust Global Wind Energy ETF during the first quarter worth about $1,550,000. Finally, Gould Asset Management LLC CA grew its holdings in shares of First Trust Global Wind Energy ETF by 3.8% during the first quarter. Gould Asset Management LLC CA now owns 13,135 shares of the company’s stock worth $325,000 after buying an additional 480 shares during the last quarter.

About First Trust Global Wind Energy ETF

First Trust ISE Global Wind Energy Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, of an equity index called the ISE Global Wind Energy Index. The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks that comprise the Index or in depositary receipts that may include American depositary receipts (ADRs), global depositary receipts (GDRs), European depositary receipts (EDRs) or other depositary receipts (collectively, Depositary Receipts) representing securities in the Index.