First Trust Innovation Leaders ETF (NYSEARCA:ILDR) Sees Significant Growth in Short Interest

First Trust Innovation Leaders ETF (NYSEARCA:ILDR) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 41,056 shares, an increase of 131.5% from the February 26th total of 17,736 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 78,273 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ILDR. LPL Financial LLC lifted its position in First Trust Innovation Leaders ETF by 36.1% during the fourth quarter. LPL Financial LLC now owns 1,698,125 shares of the company’s stock valued at $56,021,000 after purchasing an additional 450,296 shares during the last quarter. Atria Investments Inc raised its holdings in First Trust Innovation Leaders ETF by 0.5% in the fourth quarter. Atria Investments Inc now owns 262,910 shares of the company’s stock worth $8,673,000 after purchasing an additional 1,286 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of First Trust Innovation Leaders ETF by 17.3% during the 4th quarter. Assetmark Inc. now owns 202,229 shares of the company’s stock valued at $6,672,000 after buying an additional 29,785 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of First Trust Innovation Leaders ETF by 26.3% in the 4th quarter. Osaic Holdings Inc. now owns 133,007 shares of the company’s stock worth $4,388,000 after buying an additional 27,729 shares during the period. Finally, Mach 1 Financial Group LLC bought a new stake in First Trust Innovation Leaders ETF during the 4th quarter valued at about $4,025,000.

First Trust Innovation Leaders ETF Stock Down 0.9%

NYSEARCA:ILDR opened at $30.11 on Thursday. First Trust Innovation Leaders ETF has a twelve month low of $19.74 and a twelve month high of $35.28. The company has a fifty day moving average of $31.72 and a 200-day moving average of $32.58. The firm has a market capitalization of $206.25 million, a P/E ratio of 39.35 and a beta of 1.23.

About First Trust Innovation Leaders ETF

The First Trust Innovation Leaders ETF (ILDR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks capital appreciation by targeting global companies believed to benefit from scientific and technological innovation. ILDR was launched on May 25, 2021 and is managed by First Trust.