First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Shares Shorted: Short Interest Down 42.7% in September

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 38,096 shares, a decline of 42.7% from the September 15th total of 66,465 shares. Based on an average daily volume of 168,367 shares, the short-interest ratio is currently 0.2 days. Currently, 0.6% of the company’s stock are short sold.

First Trust Nasdaq Bank ETF Price Performance

NASDAQ FTXO traded up $0.52 during trading on Thursday, reaching $38.63. 95,452 shares of the company’s stock traded hands, compared to its average volume of 454,002. The firm has a market cap of $247.23 million, a price-to-earnings ratio of 11.56 and a beta of 0.92. First Trust Nasdaq Bank ETF has a 12-month low of $32.90 and a 12-month high of $44.12. The company’s 50 day simple moving average is $41.09 and its two-hundred day simple moving average is $40.23.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.21 per share. This is a drop from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572. The ex-dividend date was Thursday, September 24th. This represents a $0.84 annualized dividend and a dividend yield of 2.2%.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Several hedge funds have recently made changes to their positions in FTXO. Fifth Third Bancorp purchased a new position in shares of First Trust Nasdaq Bank ETF during the 1st quarter valued at approximately $30,000. Tucker Asset Management LLC boosted its holdings in First Trust Nasdaq Bank ETF by 18.8% in the 2nd quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock worth $64,000 after buying an additional 245 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in First Trust Nasdaq Bank ETF by 1,811.2% in the 1st quarter. Sound Income Strategies LLC now owns 2,045 shares of the company’s stock worth $75,000 after buying an additional 1,938 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 498.1% in the first quarter. Parallel Advisors LLC now owns 2,500 shares of the company’s stock valued at $90,000 after acquiring an additional 2,082 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of First Trust Nasdaq Bank ETF by 134.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,843 shares of the company’s stock valued at $103,000 after acquiring an additional 1,631 shares in the last quarter.

First Trust Nasdaq Bank ETF Company Profile

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.