First Trust Indxx Aerospace & Defense ETF (NYSEARCA:MISL – Get Free Report) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 12,588 shares, a drop of 37.7% from the July 15th total of 20,198 shares. Based on an average daily trading volume, of 106,076 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are short sold.
First Trust Indxx Aerospace & Defense ETF Trading Down 0.5%
Shares of MISL stock traded down $0.26 during trading hours on Tuesday, reaching $47.56. The company’s stock had a trading volume of 47,914 shares, compared to its average volume of 380,041. First Trust Indxx Aerospace & Defense ETF has a one year low of $37.90 and a one year high of $51.10. The stock has a market capitalization of $806.14 million, a P/E ratio of 28.78 and a beta of 0.69. The firm’s fifty day simple moving average is $45.19 and its 200 day simple moving average is $46.36.
Hedge Funds Weigh In On First Trust Indxx Aerospace & Defense ETF
Several institutional investors and hedge funds have recently modified their holdings of the stock. Buska Wealth Management LLC boosted its stake in First Trust Indxx Aerospace & Defense ETF by 190.8% in the 2nd quarter. Buska Wealth Management LLC now owns 38,200 shares of the company’s stock worth $1,748,000 after purchasing an additional 25,063 shares in the last quarter. PVG Asset Management Corp purchased a new position in First Trust Indxx Aerospace & Defense ETF in the first quarter worth about $298,000. Royal Bank of Canada raised its holdings in 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 worth $8,181,000 after buying an additional 104,982 shares during the last quarter. Gateway Wealth Partners LLC bought a new position in shares of First Trust Indxx Aerospace & Defense ETF in the first quarter worth approximately $414,000. Finally, Cetera Investment Advisers lifted its stake in shares of First Trust Indxx Aerospace & Defense ETF by 70.1% in the first quarter. Cetera Investment Advisers now owns 130,175 shares of the company’s stock worth $5,820,000 after buying an additional 53,657 shares in the last quarter.
About First Trust Indxx Aerospace & Defense ETF
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.
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