Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Increases By 2,523.5%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 961,921 shares, a growth of 2,523.5% from the February 12th total of 36,665 shares. Based on an average daily volume of 4,278,502 shares, the days-to-cover ratio is presently 0.2 days. Currently, 13.7% of the shares of the stock are sold short. Currently, 13.7% of the shares of the stock are sold short. Based on an average daily volume of 4,278,502 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the 4th quarter valued at $4,465,000. Wells Fargo & Company MN lifted its stake in First Trust Nasdaq Bank ETF by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock worth $16,970,000 after purchasing an additional 65,420 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in First Trust Nasdaq Bank ETF in the second quarter worth $1,984,000. Goldman Sachs Group Inc. boosted its position in First Trust Nasdaq Bank ETF by 282.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 76,799 shares of the company’s stock valued at $2,902,000 after buying an additional 56,699 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of First Trust Nasdaq Bank ETF by 220.0% during the fourth quarter. NewEdge Advisors LLC now owns 81,407 shares of the company’s stock valued at $3,076,000 after buying an additional 55,971 shares during the last quarter.

First Trust Nasdaq Bank ETF Stock Up 0.1%

Shares of NASDAQ FTXO traded up $0.03 during trading hours on Tuesday, reaching $35.91. 434,835 shares of the stock traded hands, compared to its average volume of 955,590. The company’s 50-day simple moving average is $38.63 and its two-hundred day simple moving average is $36.74. The company has a market capitalization of $251.37 million, a P/E ratio of 11.56 and a beta of 0.97. First Trust Nasdaq Bank ETF has a 52-week low of $25.05 and a 52-week high of $41.57.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.228 per share. The ex-dividend date was Friday, December 12th. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a yield of 2.5%.

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.