First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 81,961 shares, a growth of 432.6% from the June 15th total of 15,389 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 118,390 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in shares of First Trust Nasdaq Bank ETF during the first quarter valued at approximately $28,000. Fifth Third Bancorp acquired a new position in shares of First Trust Nasdaq Bank ETF during the 1st quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in First Trust Nasdaq Bank ETF in the fourth quarter valued at approximately $37,000. JPMorgan Chase & Co. bought a new stake in First Trust Nasdaq Bank ETF in the 3rd quarter valued at $37,000. Finally, NBC Securities Inc. grew its stake in First Trust Nasdaq Bank ETF by 22.5% during the fourth quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after buying an additional 301 shares in the last quarter.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ FTXO traded up $0.03 during trading on Monday, reaching $42.16. 34,808 shares of the company traded hands, compared to its average volume of 639,202. The stock’s 50 day moving average price is $39.63 and its two-hundred day moving average price is $38.58. First Trust Nasdaq Bank ETF has a 1-year low of $32.57 and a 1-year high of $42.63. The company has a market cap of $305.66 million, a price-to-earnings ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.2572 per share. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.4%.

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.