First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Update

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 71,079 shares, an increase of 70.8% from the August 15th total of 41,625 shares. Based on an average daily volume of 88,094 shares, the short-interest ratio is currently 0.8 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FTXO. Royal Bank of Canada increased its position in First Trust Nasdaq Bank ETF by 216.2% during the 1st quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock valued at $10,758,000 after buying an additional 203,378 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of First Trust Nasdaq Bank ETF by 10.5% in the first quarter. Bank of America Corp DE now owns 288,154 shares of the company’s stock worth $10,423,000 after buying an additional 27,273 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of First Trust Nasdaq Bank ETF by 3.3% during the 2nd quarter. NewEdge Advisors LLC now owns 154,964 shares of the company’s stock valued at $6,405,000 after purchasing an additional 4,964 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of First Trust Nasdaq Bank ETF in the 1st quarter valued at about $5,704,000. Finally, Kestra Advisory Services LLC raised its stake in shares of First Trust Nasdaq Bank ETF by 0.8% during the 1st quarter. Kestra Advisory Services LLC now owns 62,695 shares of the company’s stock worth $2,268,000 after buying an additional 481 shares during the period.

First Trust Nasdaq Bank ETF Stock Performance

NASDAQ:FTXO traded up $0.17 during trading hours on Thursday, reaching $40.76. The company’s stock had a trading volume of 51,917 shares, compared to its average volume of 490,208. The stock has a 50 day moving average price of $42.38 and a two-hundred day moving average price of $39.75. The company has a market capitalization of $287.77 million, a P/E ratio of 11.56 and a beta of 0.88. First Trust Nasdaq Bank ETF has a 12 month low of $32.90 and a 12 month high of $44.12.

First Trust Nasdaq Bank ETF Increases Dividend

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

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.