Short Interest in First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Drops By 37.7%

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 12,588 shares, a decline of 37.7% from the July 15th total of 20,198 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 106,076 shares, the short-interest ratio is currently 0.1 days.

First Trust Indxx Aerospace & Defense ETF Trading Down 0.5%

MISL stock traded down $0.26 during midday trading on Tuesday, hitting $47.56. The company had a trading volume of 47,914 shares, compared to its average volume of 380,041. First Trust Indxx Aerospace & Defense ETF has a 52 week low of $37.90 and a 52 week high of $51.10. The stock’s 50 day moving average price is $45.19 and its 200 day moving average price is $46.36. The stock has a market cap of $806.14 million, a price-to-earnings ratio of 28.78 and a beta of 0.69.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MISL. First Trust Advisors LP purchased a new stake in First Trust Indxx Aerospace & Defense ETF during the 4th quarter valued at $795,568,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of First Trust Indxx Aerospace & Defense ETF by 41.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,953,000 shares of the company’s stock valued at $176,739,000 after acquiring an additional 1,153,000 shares during the last quarter. LPL Financial LLC raised its stake in shares of First Trust Indxx Aerospace & Defense ETF by 42.5% during the fourth quarter. LPL Financial LLC now owns 634,032 shares of the company’s stock valued at $27,130,000 after acquiring an additional 189,250 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 48,689.2% during the fourth quarter. Advisory Services Network LLC now owns 439,591 shares of the company’s stock worth $18,810,000 after purchasing an additional 438,690 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 14,898.1% during the fourth quarter. NewEdge Advisors LLC now owns 427,447 shares of the company’s stock worth $18,290,000 after purchasing an additional 424,597 shares during the period.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.