Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Rises By 31.1%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 64,900 shares, an increase of 31.1% from the March 15th total of 49,500 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 70,400 shares, the days-to-cover ratio is presently 0.9 days.

First Trust Nasdaq Bank ETF Price Performance

Shares of First Trust Nasdaq Bank ETF stock opened at $27.39 on Monday. The business’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $31.82. The company has a market capitalization of $204.06 million, a P/E ratio of 10.44 and a beta of 1.11. First Trust Nasdaq Bank ETF has a 1-year low of $25.05 and a 1-year high of $35.58.

First Trust Nasdaq Bank ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a dividend of $0.1207 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new stake in First Trust Nasdaq Bank ETF during the fourth quarter valued at $10,656,000. Wells Fargo & Company MN lifted its holdings in shares of First Trust Nasdaq Bank ETF by 313.9% during the 4th quarter. Wells Fargo & Company MN now owns 284,113 shares of the company’s stock valued at $9,037,000 after buying an additional 215,465 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of First Trust Nasdaq Bank ETF in the 4th quarter valued at approximately $4,311,000. Assetmark Inc. increased its holdings in First Trust Nasdaq Bank ETF by 24,112.3% in the fourth quarter. Assetmark Inc. now owns 110,408 shares of the company’s stock worth $3,512,000 after buying an additional 109,952 shares during the last quarter. Finally, Bank of America Corp DE raised its position in First Trust Nasdaq Bank ETF by 79.8% during the fourth quarter. Bank of America Corp DE now owns 209,902 shares of the company’s stock valued at $6,677,000 after acquiring an additional 93,149 shares in the last quarter.

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.