Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Increases By 969.1%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 176,400 shares, an increase of 969.1% from the December 31st total of 16,500 shares. Based on an average daily trading volume, of 72,000 shares, the days-to-cover ratio is presently 2.5 days.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ:FTXO traded down $0.15 during trading hours on Tuesday, reaching $34.12. The company’s stock had a trading volume of 105,845 shares, compared to its average volume of 83,067. The company has a market capitalization of $225.19 million, a P/E ratio of 10.77 and a beta of 1.11. The stock has a 50 day moving average price of $33.24 and a two-hundred day moving average price of $30.84. First Trust Nasdaq Bank ETF has a 12 month low of $23.61 and a 12 month high of $35.58.

First Trust Nasdaq Bank ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.1864 per share. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Wagner Wealth Management LLC grew its holdings in First Trust Nasdaq Bank ETF by 0.6% in the third quarter. Wagner Wealth Management LLC now owns 167,065 shares of the company’s stock worth $4,858,000 after purchasing an additional 915 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of First Trust Nasdaq Bank ETF by 31.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 101,580 shares of the company’s stock worth $3,231,000 after purchasing an additional 24,261 shares in the last quarter. Nilsine Partners LLC purchased a new position in First Trust Nasdaq Bank ETF during the 4th quarter worth $1,129,000. Park Avenue Securities LLC acquired a new position in First Trust Nasdaq Bank ETF during the 4th quarter valued at about $642,000. Finally, DAVENPORT & Co LLC purchased a new stake in First Trust Nasdaq Bank ETF in the fourth quarter valued at about $497,000.

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.