First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Shares Shorted: Short Interest Up 524.6% in September

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 28,358 shares, a growth of 524.6% from the August 31st total of 4,540 shares. Based on an average daily volume of 62,508 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Trading of First Trust Nasdaq Oil & Gas ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in First Trust Nasdaq Oil & Gas ETF by 27.5% during the second quarter. Envestnet Asset Management Inc. now owns 75,224 shares of the company’s stock valued at $2,515,000 after purchasing an additional 16,211 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of First Trust Nasdaq Oil & Gas ETF during the 2nd quarter worth approximately $46,000. Integrated Wealth Concepts LLC bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF during the 2nd quarter worth approximately $32,000. NewEdge Advisors LLC raised its stake in shares of First Trust Nasdaq Oil & Gas ETF by 785.2% during the 2nd quarter. NewEdge Advisors LLC now owns 18,500 shares of the company’s stock worth $618,000 after purchasing an additional 16,410 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 405.7% in the 2nd quarter. Citadel Advisors LLC now owns 63,049 shares of the company’s stock valued at $2,108,000 after buying an additional 50,582 shares during the last quarter.

First Trust Nasdaq Oil & Gas ETF Trading Down 1.0%

First Trust Nasdaq Oil & Gas ETF stock opened at $38.60 on Friday. First Trust Nasdaq Oil & Gas ETF has a 1-year low of $26.46 and a 1-year high of $41.96. The company has a fifty day simple moving average of $39.01 and a 200 day simple moving average of $37.10. The company has a market cap of $160.19 million, a P/E ratio of 11.81 and a beta of 0.48.

First Trust Nasdaq Oil & Gas ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.2445 per share. The ex-dividend date is Thursday, September 24th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from First Trust Nasdaq Oil & Gas ETF’s previous quarterly dividend of $0.1168.

About First Trust Nasdaq Oil & Gas ETF

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.