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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 38,096 shares, a decline of 42.7% from the September 15th total of 66,465 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 168,367 shares, the short-interest ratio is presently 0.2 days.

First Trust Nasdaq Bank ETF Stock Performance

Shares of NASDAQ FTXO traded up $0.20 during midday trading on Friday, reaching $38.83. The company’s stock had a trading volume of 78,139 shares, compared to its average volume of 452,331. The company has a market cap of $248.51 million, a P/E ratio of 11.56 and a beta of 0.92. The business’s 50 day moving average price is $40.92 and its two-hundred day moving average price is $40.25. First Trust Nasdaq Bank ETF has a fifty-two week low of $33.24 and a fifty-two week high of $44.12.

First Trust Nasdaq Bank ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.84 annualized dividend and a yield of 2.2%. This is a drop from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of First Trust Nasdaq Bank ETF by 0.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 203,170 shares of the company’s stock worth $8,397,000 after acquiring an additional 951 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of First Trust Nasdaq Bank ETF in the 2nd quarter valued at $144,000. NewEdge Advisors LLC increased its stake in shares of First Trust Nasdaq Bank ETF by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 154,964 shares of the company’s stock valued at $6,405,000 after purchasing an additional 4,964 shares during the last quarter. IFP Advisors Inc increased its stake in shares of First Trust Nasdaq Bank ETF by 2.2% in the 2nd quarter. IFP Advisors Inc now owns 32,378 shares of the company’s stock valued at $1,338,000 after purchasing an additional 705 shares during the last quarter. Finally, Tucker Asset Management LLC increased its stake in shares of First Trust Nasdaq Bank ETF by 18.8% in the 2nd quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock valued at $64,000 after purchasing an additional 245 shares during the last quarter.

First Trust Nasdaq Bank ETF Company Profile

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.