Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Decreases By 59.7%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 15,389 shares, a decrease of 59.7% from the May 31st total of 38,160 shares. Based on an average daily trading volume, of 108,581 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FTXO. Comerica Bank purchased a new stake in shares of First Trust Nasdaq Bank ETF during the first quarter valued at $28,000. NewEdge Advisors LLC lifted its stake in First Trust Nasdaq Bank ETF by 784.3% during the 1st quarter. NewEdge Advisors LLC now owns 21,074 shares of the company’s stock valued at $641,000 after acquiring an additional 18,691 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of First Trust Nasdaq Bank ETF by 21.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 45,491 shares of the company’s stock valued at $1,503,000 after acquiring an additional 8,070 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of First Trust Nasdaq Bank ETF by 4.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 9,479 shares of the company’s stock valued at $313,000 after acquiring an additional 380 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of First Trust Nasdaq Bank ETF by 602.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,397 shares of the company’s stock valued at $443,000 after acquiring an additional 11,490 shares during the last quarter.

First Trust Nasdaq Bank ETF Stock Down 0.6%

Shares of FTXO opened at $41.33 on Wednesday. First Trust Nasdaq Bank ETF has a twelve month low of $32.57 and a twelve month high of $42.21. The company has a market capitalization of $349.24 million, a P/E ratio of 11.56 and a beta of 0.90. The firm has a 50 day moving average of $39.16 and a 200 day moving average of $38.36.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.2572 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.03 annualized dividend and a yield of 2.5%. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

First Trust Nasdaq Bank ETF Company Profile

The First Trust Nasdaq Bank ETF (FTXO) is an exchange-traded fund that is based on the NASDAQ US Banks index. The fund tracks an index composed of the most liquid US banking companies. Holdings are selected by their liquidity, and weighted based on volatility, value, and growth factors. FTXO was launched on Sep 20, 2016 and is managed by First Trust.