First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Sees Significant Growth in Short Interest

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 58,335 shares, an increase of 320.1% from the September 15th total of 13,885 shares. Based on an average daily volume of 8,960 shares, the days-to-cover ratio is currently 6.5 days. Currently, 5.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rhodes Investment Advisors Inc. ADV purchased a new stake in First Trust Bloomberg Emerging Market Democracies ETF in the third quarter valued at $267,000. Envestnet Asset Management Inc. boosted its stake in First Trust Bloomberg Emerging Market Democracies ETF by 40.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,684 shares of the company’s stock valued at $980,000 after acquiring an additional 6,485 shares in the last quarter. NI Acquisitions Company LLC acquired a new position in First Trust Bloomberg Emerging Market Democracies ETF in the second quarter valued at $1,406,000. Finally, Compass Financial Management LLC acquired a new position in First Trust Bloomberg Emerging Market Democracies ETF in the second quarter valued at $2,853,000.

First Trust Bloomberg Emerging Market Democracies ETF Trading Down 0.9%

Shares of NYSEARCA:EMDM opened at $41.78 on Tuesday. The company has a market capitalization of $43.87 million, a PE ratio of 12.05 and a beta of 0.89. First Trust Bloomberg Emerging Market Democracies ETF has a twelve month low of $28.25 and a twelve month high of $45.03. The firm has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $41.03.

About First Trust Bloomberg Emerging Market Democracies ETF

The First Trust Exchange-Traded Fun (EMDM) is an exchange-traded fund that mostly invests in total market equity. The fund follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization. EMDM was launched on Mar 2, 2023 and is managed by First Trust.