First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Large Growth in Short Interest

First Trust Growth Strength ETF (NASDAQ:FTGS) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 66,285 shares, an increase of 125.4% from the June 15th total of 29,408 shares. Based on an average daily trading volume, of 135,045 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of First Trust Growth Strength ETF

A number of institutional investors and hedge funds have recently made changes to their positions in FTGS. Centennial Wealth Advisory LLC increased its holdings in shares of First Trust Growth Strength ETF by 13.8% in the 4th quarter. Centennial Wealth Advisory LLC now owns 124,840 shares of the company’s stock worth $4,413,000 after acquiring an additional 15,124 shares during the period. Independent Advisor Alliance boosted its stake in First Trust Growth Strength ETF by 9.4% during the 4th quarter. Independent Advisor Alliance now owns 460,276 shares of the company’s stock valued at $16,271,000 after purchasing an additional 39,578 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in First Trust Growth Strength ETF by 7.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,125,357 shares of the company’s stock valued at $39,782,000 after purchasing an additional 73,699 shares during the period. Key Client Fiduciary Advisors LLC bought a new position in First Trust Growth Strength ETF in the 4th quarter worth about $4,982,000. Finally, Assetmark Inc. grew its position in First Trust Growth Strength ETF by 5.9% in the 4th quarter. Assetmark Inc. now owns 354,154 shares of the company’s stock worth $12,520,000 after purchasing an additional 19,842 shares during the last quarter.

First Trust Growth Strength ETF Stock Up 0.5%

FTGS opened at $37.98 on Friday. The company’s 50-day moving average price is $37.03 and its 200 day moving average price is $36.08. First Trust Growth Strength ETF has a fifty-two week low of $33.00 and a fifty-two week high of $38.65. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 23.90 and a beta of 1.02.

About First Trust Growth Strength ETF

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.