First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sees Significant Drop in Short Interest

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 134,463 shares, a drop of 41.9% from the August 15th total of 231,413 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 130,940 shares, the short-interest ratio is currently 1.0 days.

First Trust Nasdaq Pharmaceuticals ETF Trading Up 1.0%

Shares of NASDAQ FTXH traded up $0.43 during midday trading on Thursday, hitting $41.26. The company’s stock had a trading volume of 23,086 shares, compared to its average volume of 219,234. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.51 and a beta of 0.46. The stock has a fifty day moving average price of $40.13 and a 200 day moving average price of $36.75. First Trust Nasdaq Pharmaceuticals ETF has a one year low of $27.30 and a one year high of $42.87.

First Trust Nasdaq Pharmaceuticals ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.092 per share. This represents a $0.37 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust Nasdaq Pharmaceuticals ETF’s previous quarterly dividend of $0.06.

Institutional Investors Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Several institutional investors have recently made changes to their positions in FTXH. Nilsine Partners LLC boosted its stake in First Trust Nasdaq Pharmaceuticals ETF by 3.5% during the second quarter. Nilsine Partners LLC now owns 28,057 shares of the company’s stock valued at $1,071,000 after buying an additional 937 shares during the period. Compass Financial Management LLC bought a new position in First Trust Nasdaq Pharmaceuticals ETF in the 2nd quarter worth about $29,000. Vivaldi Capital Management LP increased its stake in First Trust Nasdaq Pharmaceuticals ETF by 16.0% in the 1st quarter. Vivaldi Capital Management LP now owns 12,590 shares of the company’s stock worth $433,000 after acquiring an additional 1,741 shares during the last quarter. Flputnam Investment Management Co. purchased a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF in the 4th quarter valued at about $230,000. Finally, Marshall Investment Management LLC bought a new stake in shares of First Trust Nasdaq Pharmaceuticals ETF during the 4th quarter valued at about $1,377,000.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.