Short Interest in First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Declines By 63.9%

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 8,456 shares, a decrease of 63.9% from the August 15th total of 23,402 shares. Based on an average daily volume of 81,036 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in First Trust Indxx Aerospace & Defense ETF by 41.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,953,000 shares of the company’s stock worth $176,739,000 after purchasing an additional 1,153,000 shares in the last quarter. WCG Wealth Advisors LLC purchased a new position in shares of First Trust Indxx Aerospace & Defense ETF in the fourth quarter worth $17,189,000. Kestra Advisory Services LLC lifted its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 1,577.6% in the first quarter. Kestra Advisory Services LLC now owns 368,535 shares of the company’s stock worth $16,477,000 after buying an additional 346,567 shares in the last quarter. Royal Bank of Canada boosted its position in shares of First Trust Indxx Aerospace & Defense ETF by 134.6% during the first quarter. Royal Bank of Canada now owns 182,978 shares of the company’s stock worth $8,181,000 after acquiring an additional 104,982 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of First Trust Indxx Aerospace & Defense ETF by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 138,129 shares of the company’s stock worth $6,176,000 after acquiring an additional 1,949 shares during the last quarter.

First Trust Indxx Aerospace & Defense ETF Price Performance

NYSEARCA MISL traded down $0.14 during trading hours on Monday, hitting $42.44. The company’s stock had a trading volume of 41,899 shares, compared to its average volume of 348,869. The company’s 50 day simple moving average is $44.63 and its two-hundred day simple moving average is $45.77. The company has a market cap of $719.36 million, a P/E ratio of 28.78 and a beta of 0.69. First Trust Indxx Aerospace & Defense ETF has a 12 month low of $38.84 and a 12 month high of $51.10.

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.