First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Significant Drop in Short Interest


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First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 35,300 shares, a drop of 78.7% from the December 15th total of 166,000 shares. Based on an average daily volume of 54,400 shares, the days-to-cover ratio is presently 0.6 days.

NASDAQ:FTXO traded up $0.44 during mid-day trading on Thursday, hitting $27.25. The stock had a trading volume of 4,264 shares, compared to its average volume of 137,195. The company has a 50 day simple moving average of $23.89 and a 200-day simple moving average of $21.28. First Trust Nasdaq Bank ETF has a 52 week low of $13.37 and a 52 week high of $27.94.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Monday, December 28th were given a $0.176 dividend. The ex-dividend date was Thursday, December 24th. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 2.58%.

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. boosted its position in First Trust Nasdaq Bank ETF by 26.9% during the second quarter. Advisor Group Holdings Inc. now owns 76,637 shares of the company’s stock worth $1,360,000 after purchasing an additional 16,257 shares in the last quarter. Bank of America Corp DE raised its stake in shares of First Trust Nasdaq Bank ETF by 187.8% in the second quarter. Bank of America Corp DE now owns 304,196 shares of the company’s stock worth $5,398,000 after buying an additional 198,514 shares during the period. Jane Street Group LLC raised its stake in First Trust Nasdaq Bank ETF by 12.8% during the 2nd quarter. Jane Street Group LLC now owns 37,053 shares of the company’s stock valued at $658,000 after purchasing an additional 4,194 shares during the period. Raymond James & Associates raised its stake in First Trust Nasdaq Bank ETF by 1,370.8% during the 3rd quarter. Raymond James & Associates now owns 286,763 shares of the company’s stock valued at $4,850,000 after purchasing an additional 267,266 shares during the period. Finally, Wells Fargo & Company MN increased its stake in First Trust Nasdaq Bank ETF by 24.7% in the 3rd quarter. Wells Fargo & Company MN now owns 211,354 shares of the company’s stock worth $3,574,000 after acquiring an additional 41,900 shares during the last quarter.

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