First Trust Water ETF (NYSEARCA:FIW) Sees Large Decrease in Short Interest

First Trust Water ETF (NYSEARCA:FIW) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 7,308 shares, a drop of 65.6% from the July 30th total of 21,272 shares. Based on an average daily volume of 35,165 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

First Trust Water ETF Trading Down 0.4%

Shares of NYSEARCA FIW traded down $0.45 during mid-day trading on Friday, reaching $110.47. The company had a trading volume of 25,654 shares, compared to its average volume of 54,108. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 24.17 and a beta of 0.99. First Trust Water ETF has a 52 week low of $98.52 and a 52 week high of $116.30. The business’s 50-day moving average is $109.39 and its 200-day moving average is $107.54.

Hedge Funds Weigh In On First Trust Water ETF

A number of institutional investors have recently modified their holdings of FIW. C M Bidwell & Associates Ltd. purchased a new stake in shares of First Trust Water ETF in the second quarter valued at approximately $26,000. Field & Main Bank purchased a new position in First Trust Water ETF during the 2nd quarter worth $31,000. O Shaughnessy Asset Management LLC raised its position in First Trust Water ETF by 64.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 249 shares of the company’s stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of First Trust Water ETF in the 4th quarter worth $28,000. Finally, Evolution Wealth Management Inc. bought a new position in shares of First Trust Water ETF during the 4th quarter worth $32,000.

About First Trust Water ETF

First Trust ISE Water Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the ISE Water Index (the Index). The Index is a modified market capitalization-weighted index consisting of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. The Index is rebalanced on a semi-annual basis. The Fund will normally invest at least 90% of its assets in common stocks that comprise the Index.