Short Interest in First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Decreases By 92.7%

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 2,057 shares, a drop of 92.7% from the April 30th total of 28,283 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 1,834,843 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MISL. First Trust Advisors LP bought a new position in shares of First Trust Indxx Aerospace & Defense ETF in the 4th quarter valued at about $795,568,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of First Trust Indxx Aerospace & Defense ETF in the 4th quarter valued at about $119,812,000. Nilsine Partners LLC bought a new position in shares of First Trust Indxx Aerospace & Defense ETF in the 4th quarter valued at about $22,329,000. Advisory Services Network LLC boosted its stake 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 valued at $18,810,000 after purchasing an additional 438,690 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in 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 worth $18,290,000 after acquiring an additional 424,597 shares during the last quarter.

First Trust Indxx Aerospace & Defense ETF Price Performance

Shares of NYSEARCA MISL traded down $0.27 during mid-day trading on Friday, hitting $48.92. The company’s stock had a trading volume of 124,046 shares, compared to its average volume of 525,917. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 28.78 and a beta of 0.61. First Trust Indxx Aerospace & Defense ETF has a one year low of $34.09 and a one year high of $51.10. The company’s fifty day simple moving average is $45.78 and its 200-day simple moving average is $45.70.

About First Trust Indxx Aerospace & Defense ETF

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.