First Trust Nasdaq Bank ETF (NASDAQ:FTXO – Get Free Report) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 38,096 shares, a drop 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 presently 0.2 days. Currently, 0.6% of the company’s shares are short sold.
Institutional Trading of First Trust Nasdaq Bank ETF
Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in First Trust Nasdaq Bank ETF in the 1st quarter valued at about $30,000. Tucker Asset Management LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 18.8% during the 2nd quarter. Tucker Asset Management LLC now owns 1,545 shares of the company’s stock worth $64,000 after purchasing an additional 245 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of First Trust Nasdaq Bank ETF by 1,811.2% during the 1st quarter. Sound Income Strategies LLC now owns 2,045 shares of the company’s stock worth $75,000 after purchasing an additional 1,938 shares during the last quarter. Compass Financial Management LLC acquired a new stake in First Trust Nasdaq Bank ETF in the second quarter valued at $104,000. Finally, Parallel Advisors LLC lifted its holdings in First Trust Nasdaq Bank ETF by 498.1% during the 1st quarter. Parallel Advisors LLC now owns 2,500 shares of the company’s stock worth $90,000 after buying an additional 2,082 shares during the last quarter.
First Trust Nasdaq Bank ETF Trading Up 1.4%
First Trust Nasdaq Bank ETF stock traded up $0.52 during mid-day trading on Thursday, hitting $38.63. The company’s stock had a trading volume of 95,452 shares, compared to its average volume of 454,002. The firm has a market capitalization of $247.23 million, a PE ratio of 11.56 and a beta of 0.92. First Trust Nasdaq Bank ETF has a 1 year low of $32.90 and a 1 year high of $44.12. The stock’s fifty day moving average is $41.09 and its two-hundred day 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 issued a $0.21 dividend. The ex-dividend date was Thursday, September 24th. This represents a $0.84 annualized dividend and a dividend yield of 2.2%. This is a drop from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.2572.
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.
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