First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Short Interest Down 33.9% in April

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 39,155 shares, a drop of 33.9% from the April 15th total of 59,246 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 56,504 shares, the days-to-cover ratio is presently 0.7 days.

First Trust Nasdaq Transportation ETF Stock Performance

FTXR stock opened at $40.99 on Tuesday. The company’s 50-day moving average price is $39.60 and its 200 day moving average price is $39.36. First Trust Nasdaq Transportation ETF has a 52 week low of $30.48 and a 52 week high of $44.85. The company has a market cap of $924.32 million, a P/E ratio of 11.80 and a beta of 1.27.

First Trust Nasdaq Transportation ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a dividend of $0.0342 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.14 annualized dividend and a yield of 0.3%.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new stake in shares of First Trust Nasdaq Transportation ETF during the first quarter worth about $290,000. Raymond James Financial Inc. purchased a new position in First Trust Nasdaq Transportation ETF in the second quarter valued at about $527,000. Geneos Wealth Management Inc. boosted its holdings in First Trust Nasdaq Transportation ETF by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock valued at $57,000 after purchasing an additional 1,200 shares during the last quarter. Osaic Holdings Inc. grew its stake in First Trust Nasdaq Transportation ETF by 880.3% during the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $252,000 after purchasing an additional 7,148 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in First Trust Nasdaq Transportation ETF by 4.0% during the 3rd quarter. Prospera Financial Services Inc now owns 15,991 shares of the company’s stock valued at $561,000 after purchasing an additional 608 shares in the last quarter.

First Trust Nasdaq Transportation ETF Company Profile

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.