First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Significant Decrease in Short Interest

First Trust Indxx NextG ETF (NASDAQ:NXTG) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 100 shares, a decline of 88.9% from the September 30th total of 900 shares. Based on an average daily volume of 6,600 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Indxx NextG ETF Stock Performance

NXTG stock traded up $0.01 during midday trading on Friday, hitting $86.57. 7,697 shares of the stock were exchanged, compared to its average volume of 8,283. The stock’s 50-day moving average price is $86.25 and its 200-day moving average price is $82.28. The stock has a market cap of $380.91 million, a price-to-earnings ratio of 18.31 and a beta of 0.89. First Trust Indxx NextG ETF has a fifty-two week low of $64.46 and a fifty-two week high of $88.84.

First Trust Indxx NextG ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a dividend of $0.4009 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.60 annualized dividend and a yield of 1.85%.

Hedge Funds Weigh In On First Trust Indxx NextG ETF

A number of institutional investors have recently made changes to their positions in NXTG. Zions Bancorporation N.A. acquired a new position in shares of First Trust Indxx NextG ETF in the second quarter worth $33,000. Kingswood Wealth Advisors LLC acquired a new stake in First Trust Indxx NextG ETF during the first quarter worth about $201,000. MONECO Advisors LLC acquired a new stake in First Trust Indxx NextG ETF during the second quarter worth about $246,000. CoreCap Advisors LLC acquired a new stake in shares of First Trust Indxx NextG ETF in the second quarter valued at about $351,000. Finally, Banco Santander S.A. grew its stake in shares of First Trust Indxx NextG ETF by 65.5% in the second quarter. Banco Santander S.A. now owns 5,510 shares of the company’s stock valued at $451,000 after buying an additional 2,180 shares in the last quarter.

First Trust Indxx NextG ETF Company Profile

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.