Short Interest in First Trust Growth Strength ETF (NASDAQ:FTGS) Expands By 61.5%

First Trust Growth Strength ETF (NASDAQ:FTGS) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 48,732 shares, a growth of 61.5% from the July 30th total of 30,173 shares. Based on an average daily volume of 98,536 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Growth Strength ETF Stock Performance

Shares of FTGS traded down $0.24 during mid-day trading on Monday, reaching $39.24. 69,412 shares of the company’s stock traded hands, compared to its average volume of 134,557. The business’s 50-day moving average price is $38.36 and its 200-day moving average price is $36.72. The stock has a market capitalization of $1.33 billion, a P/E ratio of 23.90 and a beta of 1.01. First Trust Growth Strength ETF has a 12 month low of $33.00 and a 12 month high of $40.12.

Institutional Trading of First Trust Growth Strength ETF

Hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in First Trust Growth Strength ETF during the 2nd quarter worth $27,000. Rothschild Investment LLC bought a new position in shares of First Trust Growth Strength ETF in the fourth quarter worth $28,000. Allworth Financial LP acquired a new position in shares of First Trust Growth Strength ETF during the third quarter valued at $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of First Trust Growth Strength ETF by 58.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,039 shares of the company’s stock valued at $37,000 after purchasing an additional 385 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of First Trust Growth Strength ETF by 100.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the company’s stock valued at $40,000 after purchasing an additional 557 shares in the last quarter.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.