First Trust Growth Strength ETF (NASDAQ:FTGS) Stock Short Interest Jumps 77.4%

First Trust Growth Strength ETF (NASDAQ:FTGS) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 58,607 shares, a growth of 77.4% from the September 15th total of 33,039 shares. Based on an average daily volume of 153,838 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

First Trust Growth Strength ETF Trading Up 0.3%

Shares of NASDAQ FTGS traded up $0.13 during midday trading on Thursday, reaching $38.19. The company had a trading volume of 8,340 shares, compared to its average volume of 131,849. First Trust Growth Strength ETF has a 1 year low of $33.00 and a 1 year high of $40.12. The business’s 50-day simple moving average is $38.76 and its 200 day simple moving average is $37.43. The stock has a market cap of $1.29 billion, a P/E ratio of 23.90 and a beta of 1.02.

First Trust Growth Strength ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.0088 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%.

Hedge Funds Weigh In On First Trust Growth Strength ETF

Several hedge funds have recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in First Trust Growth Strength ETF by 9.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,563 shares of the company’s stock worth $287,000 after acquiring an additional 675 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in First Trust Growth Strength ETF during the 3rd quarter worth about $4,287,000. First Heartland Consultants Inc. acquired a new stake in First Trust Growth Strength ETF during the 3rd quarter worth about $244,000. Park National Corp OH purchased a new stake in First Trust Growth Strength ETF during the 3rd quarter valued at about $13,728,000. Finally, Private Client Services LLC purchased a new stake in First Trust Growth Strength ETF during the 3rd quarter valued at about $368,000.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.