Short Interest in First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Expands By 432.6%

First Trust Nasdaq Bank ETF (NASDAQ:FTXO – Get Free Report) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 81,961 shares, a growth of 432.6% from the June 15th total of 15,389 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 118,390 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of First Trust Nasdaq Bank ETF by 216.2% during the first quarter. Royal Bank of Canada now owns 297,436 shares of the company’s stock valued at $10,758,000 after purchasing an additional 203,378 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of First Trust Nasdaq Bank ETF in the 1st quarter worth approximately $5,704,000. Oppenheimer & Co. Inc. acquired a new position in First Trust Nasdaq Bank ETF during the 4th quarter valued at approximately $4,465,000. NewEdge Advisors LLC boosted its position in First Trust Nasdaq Bank ETF by 84.3% during the 1st quarter. NewEdge Advisors LLC now owns 150,000 shares of the company’s stock valued at $5,425,000 after purchasing an additional 68,593 shares during the period. Finally, Wells Fargo & Company MN boosted its position in First Trust Nasdaq Bank ETF by 17.1% during the 4th quarter. Wells Fargo & Company MN now owns 449,085 shares of the company’s stock valued at $16,970,000 after purchasing an additional 65,420 shares during the period.

Get First Trust Nasdaq Bank ETF alerts:

First Trust Nasdaq Bank ETF Stock Performance

Shares of NASDAQ FTXO traded up $0.29 during midday trading on Friday, hitting $42.13. The company’s stock had a trading volume of 143,749 shares, compared to its average volume of 643,852. First Trust Nasdaq Bank ETF has a 1-year low of $32.57 and a 1-year high of $42.63. The firm’s fifty day moving average price is $39.63 and its 200-day moving average price is $38.58. The firm has a market cap of $305.44 million, a P/E ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a dividend of $0.2572 per share. This represents a $1.03 annualized dividend and a yield of 2.4%. This is a positive change from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, June 25th.

About First Trust Nasdaq Bank ETF

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than First Trust Nasdaq Bank ETF
• Starbucks Builds Sovereign AI to Cut $400 Million in Software Costs
• Power Struggle: Wolfspeed Sues Navitas Over AI Chips
• Why WD-40 Is Proving Great Businesses Never Go Out of Style
• Pushing the Edge: Super Micro Computer Reboots the AI Landscape

Receive News & Ratings for First Trust Nasdaq Bank ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Trust Nasdaq Bank ETF and related companies with MarketBeat.com's FREE daily email newsletter.