First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 6,786 shares, a decline of 91.7% from the June 30th total of 81,961 shares. Based on an average daily volume of 97,257 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several hedge funds have recently modified their holdings of the company. Puff Wealth Management LLC acquired a new position in First Trust Nasdaq Bank ETF in the 2nd quarter worth about $786,000. Parallel Advisors LLC raised its position in First Trust Nasdaq Bank ETF by 498.1% during the first quarter. Parallel Advisors LLC now owns 2,500 shares of the company’s stock worth $90,000 after acquiring an additional 2,082 shares during the period. NewEdge Advisors LLC grew its position in shares of First Trust Nasdaq Bank ETF by 84.3% in the first quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock valued at $5,425,000 after purchasing an additional 68,593 shares during the period. Bank of America Corp DE raised its position in shares of First Trust Nasdaq Bank ETF by 10.5% during the 1st quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock worth $10,423,000 after purchasing an additional 27,273 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in First Trust Nasdaq Bank ETF in the 1st quarter worth about $5,704,000.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ FTXO traded up $0.26 on Friday, reaching $42.37. 88,346 shares of the company’s stock traded hands, compared to its average volume of 603,217. First Trust Nasdaq Bank ETF has a fifty-two week low of $32.57 and a fifty-two week high of $43.21. The firm has a market cap of $305.06 million, a price-to-earnings ratio of 11.56 and a beta of 0.89. The stock has a 50 day moving average price of $40.48 and a 200-day moving average price of $38.86.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.2572 per share. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.03 annualized dividend and a dividend yield of 2.4%.

First Trust Nasdaq Bank ETF Company Profile

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.