Short Interest in First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Expands By 994.8%

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 49,911 shares, a growth of 994.8% from the July 30th total of 4,559 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 61,305 shares, the short-interest ratio is presently 0.8 days.

First Trust Nasdaq Oil & Gas ETF Price Performance

Shares of FTXN stock traded up $0.24 during trading on Wednesday, reaching $39.50. The company’s stock had a trading volume of 2,248 shares, compared to its average volume of 552,418. First Trust Nasdaq Oil & Gas ETF has a 1-year low of $26.46 and a 1-year high of $40.86. The stock’s 50-day moving average price is $36.30 and its 200 day moving average price is $36.08. The company has a market capitalization of $171.82 million, a price-to-earnings ratio of 11.81 and a beta of 0.47.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.1168 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.47 dividend on an annualized basis and a yield of 1.2%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. purchased a new position in First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth approximately $27,000. Parallel Advisors LLC acquired a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the 4th quarter worth approximately $35,000. NBC Securities Inc. raised its stake in shares of First Trust Nasdaq Oil & Gas ETF by 20.3% during the 4th quarter. NBC Securities Inc. now owns 2,229 shares of the company’s stock worth $62,000 after buying an additional 376 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of First Trust Nasdaq Oil & Gas ETF by 2,540.0% in the first quarter. Geneos Wealth Management Inc. now owns 2,640 shares of the company’s stock valued at $102,000 after purchasing an additional 2,540 shares during the last quarter.

About First Trust Nasdaq Oil & Gas ETF

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.