First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Sees Significant Decline in Short Interest

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 7,056 shares, a drop of 94.6% from the September 30th total of 130,782 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 3,361,322 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On First Trust Nasdaq Transportation ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Englebert Financial Advisers LLC raised its stake in shares of First Trust Nasdaq Transportation ETF by 14.3% in the third quarter. Englebert Financial Advisers LLC now owns 17,786 shares of the company’s stock valued at $725,000 after acquiring an additional 2,226 shares during the last quarter. WealthBridge Capital Management LLC boosted its holdings in shares of First Trust Nasdaq Transportation ETF by 4.2% in the 3rd quarter. WealthBridge Capital Management LLC now owns 8,790 shares of the company’s stock worth $358,000 after acquiring an additional 354 shares in the last quarter. Trust Co. of Oklahoma bought a new stake in First Trust Nasdaq Transportation ETF during the 3rd quarter worth approximately $1,036,000. Atwood & Palmer Inc. bought a new stake in First Trust Nasdaq Transportation ETF during the 3rd quarter worth approximately $33,000. Finally, Envestnet Asset Management Inc. grew its position in First Trust Nasdaq Transportation ETF by 35.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 53,207 shares of the company’s stock worth $2,425,000 after acquiring an additional 13,970 shares during the last quarter.

First Trust Nasdaq Transportation ETF Stock Performance

Shares of NASDAQ:FTXR traded up $0.47 on Monday, hitting $41.49. The stock had a trading volume of 103,693 shares, compared to its average volume of 462,319. First Trust Nasdaq Transportation ETF has a twelve month low of $34.13 and a twelve month high of $46.17. The firm’s 50 day moving average price is $42.47 and its 200-day moving average price is $42.22. The company has a market capitalization of $168.03 million, a price-to-earnings ratio of 11.80 and a beta of 1.31.

First Trust Nasdaq Transportation ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a dividend of $0.1191 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.48 annualized dividend and a yield of 1.1%. This is a decrease from First Trust Nasdaq Transportation ETF’s previous quarterly dividend of $0.1268.

First Trust Nasdaq Transportation ETF Company Profile

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.