Short Interest in First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Drops By 77.6%

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 3,700 shares, a decline of 77.6% from the February 28th total of 16,500 shares. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

First Trust Nasdaq Oil & Gas ETF Stock Performance

NASDAQ FTXN opened at $29.93 on Friday. First Trust Nasdaq Oil & Gas ETF has a 52-week low of $27.24 and a 52-week high of $33.72. The business has a 50 day simple moving average of $29.72 and a 200 day simple moving average of $29.85. The stock has a market cap of $163.12 million, a price-to-earnings ratio of 12.12 and a beta of 1.44.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be issued a dividend of $0.1747 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.33%.

Hedge Funds Weigh In On First Trust Nasdaq Oil & Gas ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivaldi Capital Management LP bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at about $242,000. Quantinno Capital Management LP raised its position in First Trust Nasdaq Oil & Gas ETF by 29.6% in the 4th quarter. Quantinno Capital Management LP now owns 19,505 shares of the company’s stock valued at $561,000 after buying an additional 4,459 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in First Trust Nasdaq Oil & Gas ETF in the 4th quarter valued at approximately $132,000. Cetera Investment Advisers boosted its position in First Trust Nasdaq Oil & Gas ETF by 31.5% during the 4th quarter. Cetera Investment Advisers now owns 133,693 shares of the company’s stock worth $3,844,000 after acquiring an additional 32,029 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth approximately $3,655,000.

First Trust Nasdaq Oil & Gas ETF Company Profile

The First Trust Nasdaq Oil & Gas ETF (FTXN) is an exchange-traded fund that is based on the NASDAQ US Smart Oil & Gas index. The fund tracks an index composed of 50 US oil and gas companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXN was launched on Sep 20, 2016 and is managed by First Trust.