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

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 100 shares, a decline of 97.2% from the October 15th total of 3,600 shares. Based on an average daily trading volume, of 17,900 shares, the short-interest ratio is presently 0.0 days.

First Trust Nasdaq Bank ETF Trading Down 0.1 %

Shares of FTXO traded down $0.04 during midday trading on Tuesday, hitting $34.01. The stock had a trading volume of 25,324 shares, compared to its average volume of 31,779. The business has a 50-day simple moving average of $29.81 and a two-hundred day simple moving average of $28.21. The firm has a market cap of $115.63 million, a P/E ratio of 10.77 and a beta of 1.11. First Trust Nasdaq Bank ETF has a fifty-two week low of $20.27 and a fifty-two week high of $34.35.

First Trust Nasdaq Bank ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a dividend of $0.1796 per share. This represents a $0.72 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, September 26th.

Institutional Trading of First Trust Nasdaq Bank ETF

Several large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in First Trust Nasdaq Bank ETF by 575.3% during the second quarter. Larson Financial Group LLC now owns 1,337 shares of the company’s stock valued at $35,000 after buying an additional 1,139 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of First Trust Nasdaq Bank ETF in the 2nd quarter valued at about $48,000. International Assets Investment Management LLC purchased a new stake in shares of First Trust Nasdaq Bank ETF in the second quarter worth approximately $98,000. Tyler Stone Wealth Management boosted its holdings in shares of First Trust Nasdaq Bank ETF by 68.1% during the third quarter. Tyler Stone Wealth Management now owns 7,882 shares of the company’s stock worth $229,000 after purchasing an additional 3,193 shares during the period. Finally, Cetera Advisors LLC grew its position in First Trust Nasdaq Bank ETF by 62.5% during the first quarter. Cetera Advisors LLC now owns 28,473 shares of the company’s stock valued at $773,000 after purchasing an additional 10,949 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.