First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Sees Large Increase in Short Interest

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 121,964 shares, a growth of 98.1% from the February 26th total of 61,575 shares. Approximately 13.6% of the shares of the company are short sold. Based on an average daily volume of 199,557 shares, the short-interest ratio is currently 0.6 days.

First Trust Nasdaq Transportation ETF Trading Down 1.3%

Shares of NASDAQ FTXR traded down $0.50 during midday trading on Thursday, hitting $38.03. The company’s stock had a trading volume of 136,815 shares, compared to its average volume of 625,002. The firm has a market capitalization of $34.23 million, a price-to-earnings ratio of 11.80 and a beta of 1.31. The stock has a fifty day moving average price of $40.56 and a 200 day moving average price of $38.03. First Trust Nasdaq Transportation ETF has a one year low of $25.47 and a one year high of $44.85.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new stake in First Trust Nasdaq Transportation ETF during the 4th quarter worth about $57,000. Geneos Wealth Management Inc. increased its position in shares of First Trust Nasdaq Transportation ETF by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock valued at $57,000 after buying an additional 1,200 shares during the period. Royal Bank of Canada lifted its holdings in shares of First Trust Nasdaq Transportation ETF by 38.2% in the fourth quarter. Royal Bank of Canada now owns 2,633 shares of the company’s stock worth $102,000 after buying an additional 728 shares in the last quarter. Truist Financial Corp bought a new position in shares of First Trust Nasdaq Transportation ETF in the fourth quarter valued at approximately $200,000. Finally, MML Investors Services LLC purchased a new position in First Trust Nasdaq Transportation ETF during the fourth quarter valued at approximately $235,000.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.