First Trust Expanded Technology ETF (NYSEARCA:XPND) Sees Significant Decline in Short Interest

First Trust Expanded Technology ETF (NYSEARCA:XPND) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 3,403 shares, a drop of 23.1% from the January 15th total of 4,426 shares. Based on an average trading volume of 6,901 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 6,901 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new position in shares of First Trust Expanded Technology ETF during the 2nd quarter worth about $320,000. Arkadios Wealth Advisors acquired a new position in First Trust Expanded Technology ETF during the second quarter worth approximately $276,000. Foundations Investment Advisors LLC purchased a new position in First Trust Expanded Technology ETF during the second quarter worth approximately $304,000. Raymond James Financial Inc. purchased a new position in First Trust Expanded Technology ETF during the second quarter worth approximately $71,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of First Trust Expanded Technology ETF in the 2nd quarter valued at $117,000.

First Trust Expanded Technology ETF Trading Up 0.9%

Shares of First Trust Expanded Technology ETF stock traded up $0.30 during trading hours on Friday, reaching $34.07. 3,521 shares of the company’s stock were exchanged, compared to its average volume of 5,444. First Trust Expanded Technology ETF has a 52-week low of $24.15 and a 52-week high of $38.47. The firm has a market capitalization of $51.11 million, a price-to-earnings ratio of 32.72 and a beta of 1.25. The company has a fifty day moving average of $35.82 and a 200-day moving average of $35.75.

First Trust Expanded Technology ETF Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were given a dividend of $0.0127 per share. The ex-dividend date was Friday, December 12th. This represents a $0.05 annualized dividend and a yield of 0.1%.

About First Trust Expanded Technology ETF

The First Trust Expanded Technology ETF (XPND) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in US stocks whose businesses are derived from or dependent on technology. XPND was launched on Jun 14, 2021 and is managed by First Trust.