First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Significant Growth in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 48,329 shares, a growth of 132.2% from the December 31st total of 20,813 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 77,953 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 77,953 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Trading of First Trust Nasdaq Bank ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in First Trust Nasdaq Bank ETF by 1.0% in the third quarter. Envestnet Asset Management Inc. now owns 363,898 shares of the company’s stock valued at $12,958,000 after purchasing an additional 3,469 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of First Trust Nasdaq Bank ETF by 29.6% during the 3rd quarter. Bank of America Corp DE now owns 204,787 shares of the company’s stock valued at $7,292,000 after buying an additional 46,736 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of First Trust Nasdaq Bank ETF by 22.6% during the 3rd quarter. Raymond James Financial Inc. now owns 198,974 shares of the company’s stock valued at $7,085,000 after buying an additional 36,648 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of First Trust Nasdaq Bank ETF by 11.9% in the 2nd quarter. Cetera Investment Advisers now owns 148,399 shares of the company’s stock valued at $4,902,000 after buying an additional 15,829 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in First Trust Nasdaq Bank ETF by 2.2% in the third quarter. Assetmark Inc. now owns 144,646 shares of the company’s stock worth $5,151,000 after buying an additional 3,120 shares during the last quarter.

First Trust Nasdaq Bank ETF Price Performance

FTXO traded up $0.32 on Thursday, reaching $38.26. 18,410 shares of the company traded hands, compared to its average volume of 64,903. The company has a market cap of $269.75 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. The stock’s 50 day moving average price is $37.64 and its 200-day moving average price is $35.76. First Trust Nasdaq Bank ETF has a 52-week low of $25.05 and a 52-week high of $39.65.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a dividend of $0.228 per share. The ex-dividend date was Friday, December 12th. This represents a $0.91 annualized dividend and a dividend yield of 2.4%. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17.

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.