Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Rises By 2,523.5%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 961,921 shares, a growth of 2,523.5% from the February 12th total of 36,665 shares. Based on an average daily volume of 4,278,502 shares, the days-to-cover ratio is currently 0.2 days. Approximately 13.7% of the company’s stock are short sold. Approximately 13.7% of the company’s stock are short sold. Based on an average daily volume of 4,278,502 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in First Trust Nasdaq Bank ETF during the 1st quarter valued at $28,000. Rossby Financial LCC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 148.6% during the third quarter. Rossby Financial LCC now owns 865 shares of the company’s stock valued at $30,000 after purchasing an additional 517 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the fourth quarter valued at $37,000. JPMorgan Chase & Co. purchased a new stake in shares of First Trust Nasdaq Bank ETF during the third quarter valued at $37,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of First Trust Nasdaq Bank ETF by 136.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,378 shares of the company’s stock valued at $46,000 after buying an additional 794 shares during the last quarter.

First Trust Nasdaq Bank ETF Trading Down 2.3%

NASDAQ:FTXO traded down $0.80 on Thursday, reaching $34.71. 295,266 shares of the stock traded hands, compared to its average volume of 926,878. The company has a market capitalization of $242.97 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. First Trust Nasdaq Bank ETF has a 12 month low of $25.05 and a 12 month high of $41.57. The company’s fifty day simple moving average is $38.58 and its 200 day simple moving average is $36.73.

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.