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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 103,400 shares, a decrease of 95.2% from the January 15th total of 2,150,000 shares. Based on an average daily volume of 92,600 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several institutional investors have recently added to or reduced their stakes in the business. Sherman Asset Management Inc. purchased a new stake in shares of First Trust Nasdaq Bank ETF during the 4th quarter valued at approximately $28,000. Larson Financial Group LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 22.0% during the fourth quarter. Larson Financial Group LLC now owns 1,633 shares of the company’s stock worth $52,000 after acquiring an additional 295 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of First Trust Nasdaq Bank ETF by 284.6% in the fourth 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 during the period. Principal Securities Inc. boosted its holdings in shares of First Trust Nasdaq Bank ETF by 215.5% in the fourth quarter. Principal Securities Inc. now owns 4,442 shares of the company’s stock worth $141,000 after acquiring an additional 3,034 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of First Trust Nasdaq Bank ETF during the 4th quarter valued at $238,000.

First Trust Nasdaq Bank ETF Price Performance

NASDAQ:FTXO opened at $33.88 on Thursday. The company has a market capitalization of $232.08 million, a P/E ratio of 10.77 and a beta of 1.11. The business has a fifty day simple moving average of $33.14 and a two-hundred day simple moving average of $31.26. First Trust Nasdaq Bank ETF has a 1 year low of $23.73 and a 1 year high of $35.58.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.1864 dividend. 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.