First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Sees Large Growth in Short Interest

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 50,817 shares, a growth of 44.2% from the February 26th total of 35,248 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 332,868 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Indxx Aerospace & Defense ETF Price Performance

MISL stock traded down $1.13 during midday trading on Monday, reaching $43.10. The company had a trading volume of 140,882 shares, compared to its average volume of 460,496. First Trust Indxx Aerospace & Defense ETF has a 1 year low of $26.46 and a 1 year high of $51.10. The company has a market capitalization of $1.29 billion, a P/E ratio of 28.78 and a beta of 0.66. The firm has a 50-day moving average price of $48.51 and a 200-day moving average price of $44.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP bought a new position in First Trust Indxx Aerospace & Defense ETF in the fourth quarter valued at $795,568,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in First Trust Indxx Aerospace & Defense ETF during the fourth quarter worth about $119,812,000. Nilsine Partners LLC purchased a new position in shares of First Trust Indxx Aerospace & Defense ETF in the 4th quarter worth about $22,329,000. Advisory Services Network LLC boosted its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 48,689.2% in the 4th quarter. Advisory Services Network LLC now owns 439,591 shares of the company’s stock worth $18,810,000 after purchasing an additional 438,690 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of First Trust Indxx Aerospace & Defense ETF by 14,898.1% during the 4th quarter. NewEdge Advisors LLC now owns 427,447 shares of the company’s stock valued at $18,290,000 after purchasing an additional 424,597 shares during the last quarter.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.