Short Interest in First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Declines By 58.9%

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 19,954 shares, a decline of 58.9% from the July 15th total of 48,578 shares. Based on an average daily volume of 394,468 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

First Trust Nasdaq Transportation ETF Stock Performance

Shares of FTXR opened at $45.23 on Monday. The firm has a market cap of $1.07 billion, a P/E ratio of 11.80 and a beta of 1.29. First Trust Nasdaq Transportation ETF has a 52 week low of $33.62 and a 52 week high of $46.17. The firm’s 50-day simple moving average is $44.97 and its 200 day simple moving average is $42.34.

First Trust Nasdaq Transportation ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a dividend of $0.1268 per share. This represents a $0.51 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.03.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP bought a new stake in First Trust Nasdaq Transportation ETF during the first quarter worth $669,272,000. NewEdge Advisors LLC increased its stake in shares of First Trust Nasdaq Transportation ETF by 31,579.5% in the first quarter. NewEdge Advisors LLC now owns 383,005 shares of the company’s stock valued at $14,596,000 after buying an additional 381,796 shares during the period. Royal Bank of Canada raised its stake in shares of First Trust Nasdaq Transportation ETF by 5,525.7% during the first quarter. Royal Bank of Canada now owns 148,125 shares of the company’s stock valued at $5,645,000 after acquiring an additional 145,492 shares during the last quarter. Davis Investment Partners LLC bought a new position in First Trust Nasdaq Transportation ETF during the 1st quarter worth $1,243,000. Finally, World Investment Advisors acquired a new position in shares of First Trust Nasdaq Transportation ETF in the first quarter worth approximately $985,000.

First Trust Nasdaq Transportation ETF Company Profile

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.