First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sees Large Drop in Short Interest

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 19,031 shares, a drop of 85.8% from the August 31st total of 134,463 shares. Based on an average daily volume of 35,950 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Flputnam Investment Management Co. purchased a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the fourth quarter worth about $230,000. Vivaldi Capital Management LP increased its holdings in First Trust Nasdaq Pharmaceuticals ETF by 16.0% during the 1st quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock valued at $433,000 after purchasing an additional 1,741 shares during the period. Nilsine Partners LLC raised its position in First Trust Nasdaq Pharmaceuticals ETF by 3.5% during the 2nd quarter. Nilsine Partners LLC now owns 28,057 shares of the company’s stock valued at $1,071,000 after purchasing an additional 937 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in First Trust Nasdaq Pharmaceuticals ETF during the 2nd quarter valued at approximately $29,000.

First Trust Nasdaq Pharmaceuticals ETF Stock Performance

Shares of NASDAQ FTXH traded up $0.10 during mid-day trading on Friday, hitting $41.67. The stock had a trading volume of 4,555,603 shares, compared to its average volume of 239,008. The business has a 50 day moving average price of $40.57 and a two-hundred day moving average price of $37.06. First Trust Nasdaq Pharmaceuticals ETF has a 1 year low of $27.40 and a 1 year high of $42.87. The firm has a market cap of $1.20 billion, a P/E ratio of 14.51 and a beta of 0.46.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be given a $0.0113 dividend. The ex-dividend date is Thursday, September 24th. This is a negative change from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.0920. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.1%.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.