First Trust Growth Strength ETF (NASDAQ:FTGS) Sees Significant Growth in Short Interest

First Trust Growth Strength ETF (NASDAQ:FTGS) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 58,607 shares, an increase of 77.4% from the September 15th total of 33,039 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 153,838 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Growth Strength ETF Price Performance

Shares of FTGS traded down $0.52 during midday trading on Friday, reaching $37.99. 101,953 shares of the stock were exchanged, compared to its average volume of 132,583. First Trust Growth Strength ETF has a twelve month low of $33.00 and a twelve month high of $40.12. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 23.90 and a beta of 1.02. The business’s 50-day moving average price is $38.70 and its 200 day moving average price is $37.47.

First Trust Growth Strength ETF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a dividend of $0.0088 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.04 annualized dividend and a yield of 0.1%.

Institutional Investors Weigh In On First Trust Growth Strength ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centennial Wealth Advisory LLC raised its holdings in shares of First Trust Growth Strength ETF by 73.6% in the first quarter. Centennial Wealth Advisory LLC now owns 216,767 shares of the company’s stock valued at $7,380,000 after buying an additional 91,927 shares during the last quarter. IFC & Insurance Marketing Inc. boosted its stake in shares of First Trust Growth Strength ETF by 36.0% during the first quarter. IFC & Insurance Marketing Inc. now owns 169,653 shares of the company’s stock worth $5,776,000 after buying an additional 44,865 shares during the period. Gateway Wealth Partners LLC boosted its stake in shares of First Trust Growth Strength ETF by 118.2% during the first quarter. Gateway Wealth Partners LLC now owns 168,521 shares of the company’s stock worth $5,737,000 after buying an additional 91,304 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of First Trust Growth Strength ETF during the second quarter worth about $928,000. Finally, Cetera Investment Advisers grew its holdings in shares of First Trust Growth Strength ETF by 3.2% during the first quarter. Cetera Investment Advisers now owns 1,490,187 shares of the company’s stock worth $50,734,000 after buying an additional 46,709 shares during the last quarter.

First Trust Growth Strength ETF Company Profile

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.