First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Sees Significant Increase in Short Interest

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 8,169 shares, a growth of 708.8% from the February 26th total of 1,010 shares. Based on an average daily trading volume, of 143,484 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the company’s stock are short sold. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 143,484 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Nasdaq Oil & Gas ETF Price Performance

FTXN opened at $38.64 on Wednesday. First Trust Nasdaq Oil & Gas ETF has a 1 year low of $23.43 and a 1 year high of $39.01. The company has a market capitalization of $133.31 million, a price-to-earnings ratio of 11.81 and a beta of 0.76. The firm’s fifty day moving average price is $33.39 and its two-hundred day moving average price is $29.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in First Trust Nasdaq Oil & Gas ETF by 563.3% in the 1st quarter. Royal Bank of Canada now owns 51,066 shares of the company’s stock valued at $1,546,000 after buying an additional 43,367 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of First Trust Nasdaq Oil & Gas ETF by 23.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,027 shares of the company’s stock worth $485,000 after buying an additional 3,021 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of First Trust Nasdaq Oil & Gas ETF by 6.6% in the 2nd quarter. Cetera Investment Advisers now owns 130,120 shares of the company’s stock worth $3,541,000 after buying an additional 8,002 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 19.0% in the second quarter. Quantinno Capital Management LP now owns 23,220 shares of the company’s stock valued at $632,000 after acquiring an additional 3,715 shares in the last quarter. Finally, Centaurus Financial Inc. grew its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 6.9% in the second quarter. Centaurus Financial Inc. now owns 10,310 shares of the company’s stock valued at $281,000 after acquiring an additional 669 shares in the last quarter.

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.