Short Interest in First Trust Growth Strength ETF (NASDAQ:FTGS) Declines By 54.9%

First Trust Growth Strength ETF (NASDAQ:FTGS) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 29,910 shares, a drop of 54.9% from the June 30th total of 66,285 shares. Based on an average trading volume of 115,618 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

First Trust Growth Strength ETF Stock Performance

FTGS traded up $0.14 during midday trading on Tuesday, reaching $37.90. 58,811 shares of the company were exchanged, compared to its average volume of 139,540. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 23.90 and a beta of 1.02. First Trust Growth Strength ETF has a one year low of $33.00 and a one year high of $38.65. The company’s fifty day moving average price is $37.22 and its 200 day moving average price is $36.17.

Institutional Investors Weigh In On First Trust Growth Strength ETF

Several institutional investors have recently bought and sold shares of FTGS. Independent Advisor Alliance raised its holdings in shares of First Trust Growth Strength ETF by 9.4% in the fourth quarter. Independent Advisor Alliance now owns 460,276 shares of the company’s stock valued at $16,271,000 after purchasing an additional 39,578 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in First Trust Growth Strength ETF by 13.8% in the 4th quarter. Centennial Wealth Advisory LLC now owns 124,840 shares of the company’s stock worth $4,413,000 after purchasing an additional 15,124 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in First Trust Growth Strength ETF by 7.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,125,357 shares of the company’s stock valued at $39,782,000 after buying an additional 73,699 shares during the last quarter. Key Client Fiduciary Advisors LLC bought a new position in shares of First Trust Growth Strength ETF in the fourth quarter valued at approximately $4,982,000. Finally, Assetmark Inc. grew its holdings in shares of First Trust Growth Strength ETF by 5.9% in the fourth quarter. Assetmark Inc. now owns 354,154 shares of the company’s stock valued at $12,520,000 after acquiring an additional 19,842 shares in the last quarter.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.