Short Interest in First Trust S-Network Future Vehicles & Technology ETF (NASDAQ:CARZ) Rises By 758.5%

First Trust S-Network Future Vehicles & Technology ETF (NASDAQ:CARZ) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 12,379 shares, an increase of 758.5% from the August 15th total of 1,442 shares. Based on an average trading volume of 2,370 shares, the days-to-cover ratio is presently 5.2 days. Approximately 2.8% of the company’s shares are sold short.

First Trust S-Network Future Vehicles & Technology ETF Stock Performance

NASDAQ:CARZ opened at $105.92 on Friday. The stock has a market capitalization of $47.66 million, a P/E ratio of 18.05 and a beta of 1.43. The company has a 50 day moving average price of $106.13 and a 200 day moving average price of $102.19. First Trust S-Network Future Vehicles & Technology ETF has a fifty-two week low of $68.19 and a fifty-two week high of $123.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Forty three Eighteen Advisors LLC raised its holdings in shares of First Trust S-Network Future Vehicles & Technology ETF by 3.0% in the 1st quarter. Forty three Eighteen Advisors LLC now owns 21,916 shares of the exchange traded fund’s stock valued at $1,771,000 after buying an additional 628 shares during the period. World Equity Group Inc. purchased a new position in First Trust S-Network Future Vehicles & Technology ETF during the 1st quarter valued at about $1,005,000. GeoWealth Management LLC acquired a new position in First Trust S-Network Future Vehicles & Technology ETF in the 3rd quarter valued at about $740,000. Cetera Investment Advisers grew its position in First Trust S-Network Future Vehicles & Technology ETF by 33.5% in the 4th quarter. Cetera Investment Advisers now owns 7,464 shares of the exchange traded fund’s stock valued at $581,000 after acquiring an additional 1,871 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in First Trust S-Network Future Vehicles & Technology ETF by 6.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,460 shares of the exchange traded fund’s stock valued at $542,000 after acquiring an additional 446 shares in the last quarter.

First Trust S-Network Future Vehicles & Technology ETF Company Profile

The First Trust S-Network Future Vehicles & Technology ETF (CARZ) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that provides exposure to electric and autonomous vehicles and the technology essential for the supply and production of these vehicles. Securities are selected and weighted by market-cap. CARZ was launched on May 9, 2011 and is managed by First Trust.