Short Interest in First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) Drops By 74.7%

First Trust Dow Jones International Internet ETF (NASDAQ:FDNI) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 12,265 shares, a drop of 74.7% from the May 31st total of 48,544 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 18,637 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On First Trust Dow Jones International Internet ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of First Trust Dow Jones International Internet ETF by 133.5% in the first quarter. NewEdge Advisors LLC now owns 677,183 shares of the company’s stock valued at $18,436,000 after purchasing an additional 387,223 shares in the last quarter. Warner Group LLC grew its stake in First Trust Dow Jones International Internet ETF by 14.2% during the 1st quarter. Warner Group LLC now owns 129,958 shares of the company’s stock valued at $3,538,000 after acquiring an additional 16,111 shares in the last quarter. Sankala Group LLC acquired a new position in shares of First Trust Dow Jones International Internet ETF in the 4th quarter valued at about $30,000. OLD Mission Capital LLC lifted its position in shares of First Trust Dow Jones International Internet ETF by 1,092.1% in the fourth quarter. OLD Mission Capital LLC now owns 85,115 shares of the company’s stock worth $2,887,000 after purchasing an additional 77,975 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of First Trust Dow Jones International Internet ETF during the fourth quarter worth approximately $1,116,000.

First Trust Dow Jones International Internet ETF Trading Up 1.3%

Shares of FDNI traded up $0.33 during midday trading on Friday, hitting $24.98. The stock had a trading volume of 7,240 shares, compared to its average volume of 20,541. First Trust Dow Jones International Internet ETF has a fifty-two week low of $23.99 and a fifty-two week high of $39.97. The business has a 50-day simple moving average of $27.42 and a two-hundred day simple moving average of $29.91. The firm has a market cap of $36.22 million, a P/E ratio of 21.90 and a beta of 0.89.

First Trust Dow Jones International Internet ETF Company Profile

The First Trust Dow Jones International Internet ETF (FDNI) is an exchange-traded fund that is based on the Dow Jones International Internet index, a market-cap-weighted index that holds a concentrated portfolio of the largest internet services and commerce companies outside of the US. FDNI was launched on Nov 5, 2018 and is managed by First Trust.