First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 71,079 shares, an increase of 70.8% from the August 15th total of 41,625 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 88,094 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FTXO. Royal Bank of Canada boosted its holdings in shares of First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after purchasing an additional 203,378 shares during the period. Arkadios Wealth Advisors acquired a new position in First Trust Nasdaq Bank ETF in the 1st quarter valued at approximately $5,704,000. NewEdge Advisors LLC increased its stake in First Trust Nasdaq Bank ETF by 84.3% in the 1st quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock valued at $5,425,000 after buying an additional 68,593 shares during the period. Bank of America Corp DE lifted its position in First Trust Nasdaq Bank ETF by 10.5% in the 1st quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock worth $10,423,000 after buying an additional 27,273 shares in the last quarter. Finally, Puff Wealth Management LLC acquired a new stake in shares of First Trust Nasdaq Bank ETF during the 2nd quarter valued at $786,000.

First Trust Nasdaq Bank ETF Stock Performance

Shares of NASDAQ FTXO traded down $1.21 during trading on Wednesday, hitting $40.59. The company had a trading volume of 185,276 shares, compared to its average volume of 492,692. First Trust Nasdaq Bank ETF has a 52 week low of $32.90 and a 52 week high of $44.12. The business’s 50-day moving average is $42.39 and its 200 day moving average is $39.74. The company has a market cap of $286.57 million, a P/E ratio of 11.56 and a beta of 0.88.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.2572 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, June 25th.

About First Trust Nasdaq Bank ETF

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.