First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Decrease in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 100 shares, a drop of 97.2% from the October 15th total of 3,600 shares. Based on an average daily trading volume, of 17,900 shares, the days-to-cover ratio is presently 0.0 days.

First Trust Nasdaq Bank ETF Trading Down 0.2 %

NASDAQ:FTXO opened at $33.98 on Wednesday. The stock has a 50 day moving average of $29.90 and a two-hundred day moving average of $28.27. First Trust Nasdaq Bank ETF has a 12 month low of $20.27 and a 12 month high of $34.35. The firm has a market cap of $115.53 million, a P/E ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a dividend of $0.1796 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, September 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wagner Wealth Management LLC grew its holdings in shares of First Trust Nasdaq Bank ETF by 0.6% during the third quarter. Wagner Wealth Management LLC now owns 167,065 shares of the company’s stock worth $4,858,000 after buying an additional 915 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in First Trust Nasdaq Bank ETF by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 77,319 shares of the company’s stock valued at $2,248,000 after acquiring an additional 2,144 shares in the last quarter. PFG Advisors raised its holdings in First Trust Nasdaq Bank ETF by 21.6% in the 2nd quarter. PFG Advisors now owns 38,288 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6,809 shares during the last quarter. Cetera Advisors LLC lifted its stake in First Trust Nasdaq Bank ETF by 62.5% in the 1st quarter. Cetera Advisors LLC now owns 28,473 shares of the company’s stock worth $773,000 after purchasing an additional 10,949 shares in the last quarter. Finally, Tyler Stone Wealth Management boosted its holdings in shares of First Trust Nasdaq Bank ETF by 68.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 7,882 shares of the company’s stock worth $229,000 after purchasing an additional 3,193 shares during the last quarter.

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.