First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Large Growth in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 41,625 shares, an increase of 1,667.5% from the July 30th total of 2,355 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 65,429 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several large investors have recently made changes to their positions in FTXO. Trust Co. of Vermont acquired a new position in First Trust Nasdaq Bank ETF during the second quarter worth $27,000. Comerica Bank bought a new stake in First Trust Nasdaq Bank ETF during the first quarter worth $28,000. Fifth Third Bancorp bought a new stake in First Trust Nasdaq Bank ETF during the first quarter worth $30,000. JPMorgan Chase & Co. acquired a new stake in First Trust Nasdaq Bank ETF in the third quarter valued at $37,000. Finally, NBC Securities Inc. lifted its stake in First Trust Nasdaq Bank ETF by 22.5% in the fourth quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock valued at $62,000 after acquiring an additional 301 shares during the last quarter.

First Trust Nasdaq Bank ETF Stock Performance

FTXO traded down $0.03 on Tuesday, hitting $41.90. 231,202 shares of the company were exchanged, compared to its average volume of 532,396. The stock’s fifty day moving average is $42.23 and its 200-day moving average is $39.49. First Trust Nasdaq Bank ETF has a 12 month low of $32.90 and a 12 month high of $44.12. The company has a market cap of $303.77 million, a PE ratio of 11.56 and a beta of 0.89.

First Trust Nasdaq Bank ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.2572 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from First Trust Nasdaq Bank ETF’s previous quarterly dividend of $0.07.

First Trust Nasdaq Bank ETF Company Profile

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.