First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) Sees Significant Decrease in Short Interest

First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 41,193 shares, a decline of 46.2% from the March 15th total of 76,606 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 11,036 shares, the days-to-cover ratio is currently 3.7 days.

Hedge Funds Weigh In On First Trust Dow Jones International Internet ETF

A number of hedge funds have recently made changes to their positions in the stock. Warner Group LLC acquired a new stake in shares of First Trust Dow Jones International Internet ETF during the 3rd quarter worth $3,912,000. OLD Mission Capital LLC boosted its holdings in First Trust Dow Jones International Internet ETF by 1,092.1% in the fourth quarter. OLD Mission Capital LLC now owns 85,115 shares of the company’s stock valued at $2,887,000 after acquiring an additional 77,975 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in First Trust Dow Jones International Internet ETF by 5.1% in the third quarter. Raymond James Financial Inc. now owns 131,362 shares of the company’s stock valued at $5,090,000 after acquiring an additional 6,415 shares during the last quarter. NewEdge Advisors LLC grew its position in First Trust Dow Jones International Internet ETF by 3.6% during the second quarter. NewEdge Advisors LLC now owns 261,410 shares of the company’s stock valued at $8,797,000 after acquiring an additional 8,995 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in First Trust Dow Jones International Internet ETF during the second quarter worth about $102,000.

First Trust Dow Jones International Internet ETF Stock Performance

Shares of FDNI stock remained flat at $28.35 during trading hours on Wednesday. 2,422 shares of the stock traded hands, compared to its average volume of 14,117. The business’s 50-day moving average price is $28.71 and its two-hundred day moving average price is $33.23. First Trust Dow Jones International Internet ETF has a 1-year low of $25.95 and a 1-year high of $39.97. The stock has a market cap of $45.36 million, a price-to-earnings ratio of 21.90 and a beta of 0.95.

First Trust Dow Jones International Internet ETF Company Profile

The First Trust Dow Jones International Internet ETF (FDNI) is an exchange-traded fund that is based on the Dow Jones International Internet index, a market-cap-weighted index that holds a concentrated portfolio of the largest internet services and commerce companies outside of the US. FDNI was launched on Nov 5, 2018 and is managed by First Trust.