First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) Shares Shorted: Short Interest Down 94.8% in October

First Trust Bloomberg Emerging Market Democracies ETF (NYSEARCA:EMDM) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 3,047 shares, a decrease of 94.8% from the September 30th total of 58,335 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 5,148 shares, the days-to-cover ratio is presently 0.6 days.

First Trust Bloomberg Emerging Market Democracies ETF Price Performance

EMDM stock opened at $38.66 on Tuesday. The stock has a market capitalization of $40.59 million, a PE ratio of 12.05 and a beta of 0.89. The company’s 50-day moving average is $41.90 and its 200-day moving average is $39.63. First Trust Bloomberg Emerging Market Democracies ETF has a 1 year low of $28.54 and a 1 year high of $45.03.

Institutional Investors Weigh In On First Trust Bloomberg Emerging Market Democracies ETF

A number of institutional investors have recently made changes to their positions in EMDM. Rhodes Investment Advisors Inc. ADV purchased a new position in First Trust Bloomberg Emerging Market Democracies ETF during the third quarter valued at $267,000. Envestnet Asset Management Inc. grew its holdings in shares of First Trust Bloomberg Emerging Market Democracies ETF by 40.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,684 shares of the company’s stock worth $980,000 after purchasing an additional 6,485 shares during the last quarter. NI Acquisitions Company LLC purchased a new position in First Trust Bloomberg Emerging Market Democracies ETF in the second quarter worth $1,406,000. Finally, Compass Financial Management LLC purchased a new stake in First Trust Bloomberg Emerging Market Democracies ETF in the second quarter valued at approximately $2,853,000.

About First Trust Bloomberg Emerging Market Democracies ETF

The First Trust Exchange-Traded Fun (EMDM) is an exchange-traded fund that mostly invests in total market equity. The fund follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization. EMDM was launched on Mar 2, 2023 and is managed by First Trust.