Short Interest in First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Decreases By 26.3%

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 96,772 shares, a drop of 26.3% from the March 31st total of 131,348 shares. Approximately 10.2% of the shares of the company are short sold. Based on an average daily volume of 23,711 shares, the short-interest ratio is currently 4.1 days.

First Trust Nasdaq Food & Beverage ETF Price Performance

Shares of FTXG traded up $0.31 during trading hours on Thursday, hitting $22.51. The company’s stock had a trading volume of 4,317 shares, compared to its average volume of 22,210. The company has a market cap of $21.38 million, a price-to-earnings ratio of 15.14 and a beta of 0.39. The business has a 50 day simple moving average of $22.43 and a two-hundred day simple moving average of $21.93. First Trust Nasdaq Food & Beverage ETF has a 52-week low of $20.43 and a 52-week high of $23.94.

First Trust Nasdaq Food & Beverage ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a $0.0893 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On First Trust Nasdaq Food & Beverage ETF

Large investors have recently modified their holdings of the company. Miller Global Investments LLC bought a new position in shares of First Trust Nasdaq Food & Beverage ETF in the fourth quarter valued at approximately $36,000. Royal Bank of Canada boosted its position in shares of First Trust Nasdaq Food & Beverage ETF by 348.0% in the fourth quarter. Royal Bank of Canada now owns 5,430 shares of the company’s stock valued at $114,000 after acquiring an additional 4,218 shares during the period. Osaic Holdings Inc. boosted its position in shares of First Trust Nasdaq Food & Beverage ETF by 31.2% in the fourth quarter. Osaic Holdings Inc. now owns 6,344 shares of the company’s stock valued at $133,000 after acquiring an additional 1,508 shares during the period. Raymond James Financial Inc. bought a new position in shares of First Trust Nasdaq Food & Beverage ETF in the second quarter valued at approximately $147,000. Finally, LPL Financial LLC boosted its position in shares of First Trust Nasdaq Food & Beverage ETF by 37.0% in the fourth quarter. LPL Financial LLC now owns 13,432 shares of the company’s stock valued at $281,000 after acquiring an additional 3,631 shares during the period.

About First Trust Nasdaq Food & Beverage ETF

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.