First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Up 969.1% in January

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

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wagner Wealth Management LLC increased its position in shares of First Trust Nasdaq Bank ETF by 0.5% in the fourth quarter. Wagner Wealth Management LLC now owns 167,920 shares of the company’s stock worth $5,341,000 after purchasing an additional 855 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of First Trust Nasdaq Bank ETF in the 4th quarter valued at approximately $497,000. Nilsine Partners LLC acquired a new position in shares of First Trust Nasdaq Bank ETF in the 4th quarter valued at approximately $1,129,000. Janney Montgomery Scott LLC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 31.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 101,580 shares of the company’s stock worth $3,231,000 after acquiring an additional 24,261 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of First Trust Nasdaq Bank ETF by 284.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,365 shares of the company’s stock worth $75,000 after acquiring an additional 1,750 shares in the last quarter.

First Trust Nasdaq Bank ETF Stock Down 0.3 %

Shares of NASDAQ:FTXO opened at $34.02 on Thursday. First Trust Nasdaq Bank ETF has a 12-month low of $23.61 and a 12-month high of $35.58. The company’s 50 day moving average price is $33.26 and its two-hundred day moving average price is $30.91. The firm has a market cap of $224.53 million, a PE ratio of 10.77 and a beta of 1.11.

First Trust Nasdaq Bank ETF Cuts Dividend

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

About First Trust Nasdaq Bank ETF

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.