Short Interest in First Trust Global Wind Energy ETF (NYSEARCA:FAN) Drops By 49.4%

First Trust Global Wind Energy ETF (NYSEARCA:FAN) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 79,819 shares, a drop of 49.4% from the May 31st total of 157,852 shares. Based on an average trading volume of 69,859 shares, the short-interest ratio is presently 1.1 days. Approximately 0.8% of the company’s shares are sold short.

First Trust Global Wind Energy ETF Stock Performance

Shares of First Trust Global Wind Energy ETF stock traded down $0.14 on Wednesday, hitting $24.84. The company had a trading volume of 169,317 shares, compared to its average volume of 78,553. First Trust Global Wind Energy ETF has a 1 year low of $18.14 and a 1 year high of $27.30. The stock has a 50 day moving average of $25.72 and a 200-day moving average of $23.94. The stock has a market capitalization of $303.05 million, a price-to-earnings ratio of 19.71 and a beta of 0.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in shares of First Trust Global Wind Energy ETF by 222.3% during the fourth quarter. UBS Group AG now owns 412,320 shares of the company’s stock valued at $8,440,000 after buying an additional 284,371 shares during the period. Concorde Asset Management LLC purchased a new position in First Trust Global Wind Energy ETF during the fourth quarter valued at approximately $1,750,000. Beto Financial Group LLC bought a new stake in First Trust Global Wind Energy ETF during the 4th quarter worth approximately $464,000. Nilsine Partners LLC purchased a new stake in First Trust Global Wind Energy ETF in the 4th quarter worth approximately $1,006,000. Finally, Oppenheimer & Co. Inc. lifted its stake in First Trust Global Wind Energy ETF by 10.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,734 shares of the company’s stock worth $4,211,000 after purchasing an additional 19,943 shares in the last quarter.

First Trust Global Wind Energy ETF Company Profile

First Trust ISE Global Wind Energy Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, of an equity index called the ISE Global Wind Energy Index. The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks that comprise the Index or in depositary receipts that may include American depositary receipts (ADRs), global depositary receipts (GDRs), European depositary receipts (EDRs) or other depositary receipts (collectively, Depositary Receipts) representing securities in the Index.