First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Sees Significant Decrease in Short Interest

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 15,389 shares, a decrease of 59.7% from the May 31st total of 38,160 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 108,581 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Nasdaq Bank ETF Price Performance

FTXO traded down $0.01 on Monday, reaching $41.60. 215,581 shares of the company traded hands, compared to its average volume of 679,434. The stock’s 50 day moving average price is $39.05 and its 200-day moving average price is $38.30. First Trust Nasdaq Bank ETF has a 52-week low of $32.57 and a 52-week high of $42.21. The company has a market cap of $351.52 million, a price-to-earnings ratio of 11.56 and a beta of 0.90.

First Trust Nasdaq Bank ETF Increases Dividend

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

Hedge Funds Weigh In On First Trust Nasdaq Bank ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new stake in shares of First Trust Nasdaq Bank ETF during the first quarter worth $30,000. Comerica Bank purchased a new position in First Trust Nasdaq Bank ETF in the first quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in First Trust Nasdaq Bank ETF in the 4th quarter worth about $37,000. JPMorgan Chase & Co. acquired a new position in First Trust Nasdaq Bank ETF in the 3rd quarter worth about $37,000. Finally, NBC Securities Inc. raised its stake in shares of First Trust Nasdaq Bank ETF by 22.5% during the 4th quarter. NBC Securities Inc. now owns 1,636 shares of the company’s stock worth $62,000 after purchasing an additional 301 shares in the last quarter.

About First Trust Nasdaq Bank ETF

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.