First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) Sees Large Decline in Short Interest

First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 8,500 shares, a decline of 23.4% from the March 15th total of 11,100 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is presently 1.2 days.

First Trust Indxx Innovative Transaction & Process ETF Stock Performance

Shares of LEGR traded down $0.46 during midday trading on Monday, hitting $45.75. 2,888 shares of the company traded hands, compared to its average volume of 6,982. First Trust Indxx Innovative Transaction & Process ETF has a 52 week low of $37.28 and a 52 week high of $50.35. The firm has a 50 day moving average of $48.33 and a 200-day moving average of $47.64. The stock has a market cap of $86.93 million, a price-to-earnings ratio of 13.21 and a beta of 0.97.

First Trust Indxx Innovative Transaction & Process ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Trading of First Trust Indxx Innovative Transaction & Process ETF

Several hedge funds and other institutional investors have recently bought and sold shares of LEGR. Stifel Financial Corp purchased a new stake in shares of First Trust Indxx Innovative Transaction & Process ETF in the third quarter valued at $201,000. IHT Wealth Management LLC raised its position in First Trust Indxx Innovative Transaction & Process ETF by 27.8% in the 4th quarter. IHT Wealth Management LLC now owns 5,559 shares of the company’s stock worth $258,000 after purchasing an additional 1,210 shares during the period. Commonwealth Equity Services LLC lifted its stake in First Trust Indxx Innovative Transaction & Process ETF by 32.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,832 shares of the company’s stock worth $549,000 after purchasing an additional 2,882 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of First Trust Indxx Innovative Transaction & Process ETF during the fourth quarter valued at approximately $829,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of First Trust Indxx Innovative Transaction & Process ETF by 5.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 22,221 shares of the company’s stock worth $1,031,000 after buying an additional 1,242 shares during the period.

About First Trust Indxx Innovative Transaction & Process ETF

The First Trust Indxx Innovative Transaction & Process ETF (LEGR) is an exchange-traded fund that is based on the Indxx Blockchain index. The fund tracks an index of global equities selected based on their exposure to the development or usage of blockchain technology. LEGR was launched on Jan 24, 2018 and is managed by First Trust.