First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Down 83.3% in April

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) saw a large decline in short interest in April. As of April 15th, there was short interest totaling 6,665 shares, a decline of 83.3% from the March 31st total of 39,795 shares. Based on an average daily trading volume, of 175,858 shares, the short-interest ratio is presently 0.0 days. Approximately 0.1% of the shares of the stock are sold short.

First Trust Nasdaq Bank ETF Price Performance

Shares of FTXO traded down $0.59 during midday trading on Friday, reaching $38.46. The stock had a trading volume of 64,665 shares, compared to its average volume of 997,830. First Trust Nasdaq Bank ETF has a 52 week low of $28.35 and a 52 week high of $41.57. The firm’s 50 day moving average price is $37.25 and its 200-day moving average price is $36.99. The company has a market capitalization of $330.76 million, a P/E ratio of 11.56 and a beta of 0.92.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.0735 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Trading of First Trust Nasdaq Bank ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FTXO. Comerica Bank bought a new stake in shares of First Trust Nasdaq Bank ETF in the 1st quarter worth $28,000. NewEdge Advisors LLC raised its stake in shares of First Trust Nasdaq Bank ETF by 784.3% in the 1st quarter. NewEdge Advisors LLC now owns 21,074 shares of the company’s stock worth $641,000 after buying an additional 18,691 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of First Trust Nasdaq Bank ETF by 21.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 45,491 shares of the company’s stock worth $1,503,000 after buying an additional 8,070 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of First Trust Nasdaq Bank ETF by 4.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 9,479 shares of the company’s stock worth $313,000 after buying an additional 380 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of First Trust Nasdaq Bank ETF by 602.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,397 shares of the company’s stock worth $443,000 after buying an additional 11,490 shares in 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.