First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Sees Significant Drop in Short Interest

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 4,540 shares, a decline of 90.9% from the August 15th total of 49,911 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 35,958 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Nasdaq Oil & Gas ETF Stock Performance

Shares of First Trust Nasdaq Oil & Gas ETF stock traded up $0.09 during trading hours on Friday, reaching $41.24. The company’s stock had a trading volume of 58,480 shares, compared to its average volume of 520,540. The company’s 50 day simple moving average is $38.10 and its 200 day simple moving average is $36.74. First Trust Nasdaq Oil & Gas ETF has a one year low of $26.46 and a one year high of $41.91. The stock has a market cap of $179.39 million, a P/E ratio of 11.81 and a beta of 0.48.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a $0.1168 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.47 annualized dividend and a dividend yield of 1.1%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC bought a new position in First Trust Nasdaq Oil & Gas ETF during the 2nd quarter worth $46,000. Integrated Wealth Concepts LLC bought a new position in shares of First Trust Nasdaq Oil & Gas ETF in the second quarter worth $32,000. NewEdge Advisors LLC increased its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 785.2% during the second quarter. NewEdge Advisors LLC now owns 18,500 shares of the company’s stock valued at $618,000 after purchasing an additional 16,410 shares during the period. Citadel Advisors LLC increased its holdings in shares of First Trust Nasdaq Oil & Gas ETF by 405.7% during the second quarter. Citadel Advisors LLC now owns 63,049 shares of the company’s stock valued at $2,108,000 after purchasing an additional 50,582 shares during the period. Finally, Tudor Financial Inc. bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF during the second quarter valued at about $860,000.

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.