First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Short Interest Down 77.6% in March

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 3,700 shares, a drop of 77.6% from the February 28th total of 16,500 shares. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at approximately $3,655,000. LPL Financial LLC raised its stake in shares of First Trust Nasdaq Oil & Gas ETF by 13.3% in the fourth quarter. LPL Financial LLC now owns 506,608 shares of the company’s stock valued at $14,565,000 after buying an additional 59,471 shares during the period. Sigma Planning Corp purchased a new position in shares of First Trust Nasdaq Oil & Gas ETF during the 4th quarter valued at $1,152,000. Marshall Investment Management LLC bought a new position in shares of First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth $1,036,000. Finally, Cetera Investment Advisers increased its holdings in First Trust Nasdaq Oil & Gas ETF by 31.5% in the 4th quarter. Cetera Investment Advisers now owns 133,693 shares of the company’s stock worth $3,844,000 after acquiring an additional 32,029 shares during the last quarter.

First Trust Nasdaq Oil & Gas ETF Price Performance

NASDAQ FTXN opened at $29.93 on Friday. The business’s fifty day moving average is $29.72 and its 200-day moving average is $29.85. The stock has a market capitalization of $163.12 million, a price-to-earnings ratio of 12.12 and a beta of 1.44. First Trust Nasdaq Oil & Gas ETF has a one year low of $27.24 and a one year high of $33.72.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 27th will be paid a $0.1747 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, March 27th.

First Trust Nasdaq Oil & Gas ETF Company Profile

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.