First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Down 65.3% in July

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,355 shares, a decline of 65.3% from the July 15th total of 6,786 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 79,785 shares, the short-interest ratio is currently 0.0 days.

First Trust Nasdaq Bank ETF Price Performance

Shares of FTXO stock traded up $0.14 during trading hours on Friday, reaching $43.80. The company had a trading volume of 31,309 shares, compared to its average volume of 551,762. The company has a market cap of $317.55 million, a price-to-earnings ratio of 11.56 and a beta of 0.89. First Trust Nasdaq Bank ETF has a 12 month low of $32.90 and a 12 month high of $43.99. The business has a fifty day simple moving average of $41.85 and a 200-day simple moving average of $39.29.

First Trust Nasdaq Bank ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.2572 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a yield of 2.3%. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock worth $10,758,000 after purchasing an additional 203,378 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of First Trust Nasdaq Bank ETF in the 1st quarter worth approximately $5,704,000. Oppenheimer & Co. Inc. purchased a new position in shares of First Trust Nasdaq Bank ETF in the 4th quarter worth approximately $4,465,000. NewEdge Advisors LLC grew its holdings in shares of First Trust Nasdaq Bank ETF by 84.3% in the first quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock valued at $5,425,000 after acquiring an additional 68,593 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of First Trust Nasdaq Bank ETF by 17.1% during the fourth quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock valued at $16,970,000 after acquiring an additional 65,420 shares during the last quarter.

About First Trust Nasdaq Bank ETF

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.