First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) Sees Large Growth in Short Interest

First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 71,279 shares, a growth of 786.0% from the October 15th total of 8,045 shares. Based on an average daily volume of 101,189 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Investors Weigh In On First Trust Indxx Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in First Trust Indxx Aerospace & Defense ETF by 41.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,953,000 shares of the company’s stock worth $176,739,000 after purchasing an additional 1,153,000 shares during the period. International Assets Investment Management LLC raised its stake in shares of First Trust Indxx Aerospace & Defense ETF by 2,103.7% in the 3rd quarter. International Assets Investment Management LLC now owns 500,000 shares of the company’s stock valued at $20,800,000 after purchasing an additional 477,311 shares during the period. Kestra Advisory Services LLC raised its stake in shares of First Trust Indxx Aerospace & Defense ETF by 19.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 408,674 shares of the company’s stock valued at $17,001,000 after purchasing an additional 67,223 shares during the period. D.A. Davidson & CO. bought a new stake in shares of First Trust Indxx Aerospace & Defense ETF in the third quarter valued at about $8,338,000. Finally, Royal Bank of Canada lifted its holdings in shares of First Trust Indxx Aerospace & Defense ETF by 134.6% in the first quarter. Royal Bank of Canada now owns 182,978 shares of the company’s stock valued at $8,181,000 after purchasing an additional 104,982 shares in the last quarter.

First Trust Indxx Aerospace & Defense ETF Stock Performance

NYSEARCA MISL opened at $42.08 on Friday. The business has a 50 day simple moving average of $42.00 and a 200 day simple moving average of $45.19. First Trust Indxx Aerospace & Defense ETF has a 52-week low of $38.84 and a 52-week high of $51.10. The stock has a market cap of $523.90 million, a price-to-earnings ratio of 28.51 and a beta of 0.71.

First Trust Indxx Aerospace & Defense ETF Company Profile

The First Trust Indxx Aerospace & Defense ETF (MISL) is an exchange-traded fund that is based on the Indxx US Aerospace & Defense index. The fund tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense. MISL was launched on Oct 25, 2022 and is managed by First Trust.