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 the month of February. As of February 28th, there was short interest totalling 65,400 shares, a decrease of 38.0% from the February 13th total of 105,400 shares. Based on an average trading volume of 75,800 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.0% of the company’s shares are sold short.

First Trust Nasdaq Bank ETF Stock Up 3.0 %

NASDAQ FTXO traded up $0.86 on Friday, reaching $29.88. The company had a trading volume of 105,014 shares, compared to its average volume of 42,817. The stock’s 50 day moving average is $32.88 and its 200-day moving average is $31.87. The stock has a market cap of $204.68 million, a price-to-earnings ratio of 13.83 and a beta of 1.11. First Trust Nasdaq Bank ETF has a 52 week low of $24.72 and a 52 week high of $35.58.

Institutional Investors Weigh In On First Trust Nasdaq Bank ETF

Several large investors have recently modified their holdings of the business. Sherman Asset Management Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the fourth quarter worth about $28,000. Larson Financial Group LLC grew its holdings in shares of First Trust Nasdaq Bank ETF by 22.0% during the fourth quarter. Larson Financial Group LLC now owns 1,633 shares of the company’s stock worth $52,000 after buying an additional 295 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of First Trust Nasdaq Bank ETF by 284.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,365 shares of the company’s stock worth $75,000 after buying an additional 1,750 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of First Trust Nasdaq Bank ETF by 215.5% during the fourth quarter. Principal Securities Inc. now owns 4,442 shares of the company’s stock worth $141,000 after buying an additional 3,034 shares in the last quarter. Finally, Concourse Financial Group Securities Inc. bought a new position in shares of First Trust Nasdaq Bank ETF during the fourth quarter worth about $156,000.

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.