First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Growth in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 81,961 shares, an increase of 432.6% from the June 15th total of 15,389 shares. Based on an average daily volume of 118,390 shares, the short-interest ratio is presently 0.7 days. Approximately 1.1% of the company’s shares are sold short.

First Trust Nasdaq Bank ETF Trading Up 0.1%

NASDAQ FTXO traded up $0.03 during trading hours on Monday, hitting $42.16. 34,808 shares of the company’s stock were exchanged, compared to its average volume of 639,202. The stock has a 50-day simple moving average of $39.63 and a 200 day simple moving average of $38.58. First Trust Nasdaq Bank ETF has a 1-year low of $32.57 and a 1-year high of $42.63. The firm has a market cap of $305.66 million, a price-to-earnings ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.2572 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 25th. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

Institutional Trading of First Trust Nasdaq Bank ETF

Several large investors have recently modified their holdings of FTXO. Comerica Bank acquired a new position in shares of First Trust Nasdaq Bank ETF during the 1st quarter valued at $28,000. NewEdge Advisors LLC increased its stake in First Trust Nasdaq Bank ETF by 784.3% in the first quarter. NewEdge Advisors LLC now owns 21,074 shares of the company’s stock valued at $641,000 after purchasing an additional 18,691 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of First Trust Nasdaq Bank ETF by 21.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 45,491 shares of the company’s stock valued at $1,503,000 after buying an additional 8,070 shares during the period. Great Valley Advisor Group Inc. increased its position in First Trust Nasdaq Bank ETF by 4.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 9,479 shares of the company’s stock valued at $313,000 after buying an additional 380 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in First Trust Nasdaq Bank ETF by 602.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,397 shares of the company’s stock valued at $443,000 after buying an additional 11,490 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.