First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Up 132.2% in January

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 48,329 shares, an increase of 132.2% from the December 31st total of 20,813 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 77,953 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 77,953 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its stake in First Trust Nasdaq Bank ETF by 22.5% during the fourth quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after purchasing an additional 301 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of 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 purchasing an additional 380 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of First Trust Nasdaq Bank ETF by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 18,130 shares of the company’s stock worth $646,000 after buying an additional 452 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of First Trust Nasdaq Bank ETF by 4.8% during the 2nd quarter. Harbour Investments Inc. now owns 10,762 shares of the company’s stock worth $355,000 after buying an additional 491 shares during the last quarter. Finally, Rossby Financial LCC boosted its stake in First Trust Nasdaq Bank ETF by 148.6% in the third quarter. Rossby Financial LCC now owns 865 shares of the company’s stock valued at $30,000 after buying an additional 517 shares in the last quarter.

First Trust Nasdaq Bank ETF Stock Performance

Shares of NASDAQ FTXO traded up $0.03 during mid-day trading on Friday, reaching $38.62. The company had a trading volume of 38,323 shares, compared to its average volume of 65,391. The firm has a market cap of $272.27 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. The business’s 50-day simple moving average is $37.81 and its 200 day simple moving average is $35.82. First Trust Nasdaq Bank ETF has a one year low of $25.05 and a one year high of $39.65.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were given a $0.228 dividend. This represents a $0.91 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, December 12th. This is a boost from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.17.

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.