First Trust Nasdaq Bank ETF (NASDAQ:FTXO) Short Interest Down 38.0% in February

First Trust Nasdaq Bank ETF (NASDAQ:FTXO) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 65,400 shares, a decline of 38.0% from the February 13th total of 105,400 shares. Based on an average daily volume of 75,800 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the shares of the company are short sold.

First Trust Nasdaq Bank ETF Price Performance

NASDAQ:FTXO traded up $0.20 during midday trading on Monday, reaching $30.08. 30,041 shares of the company traded hands, compared to its average volume of 42,766. First Trust Nasdaq Bank ETF has a twelve month low of $24.72 and a twelve month high of $35.58. The firm has a market capitalization of $206.04 million, a price-to-earnings ratio of 13.83 and a beta of 1.11. The company has a fifty day moving average price of $32.88 and a 200 day moving average price of $31.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTXO. Sherman Asset Management Inc. acquired a new position in First Trust Nasdaq Bank ETF during the 4th quarter worth $28,000. Larson Financial Group LLC lifted its holdings in shares of First Trust Nasdaq Bank ETF by 22.0% in the fourth quarter. Larson Financial Group LLC now owns 1,633 shares of the company’s stock valued at $52,000 after buying an additional 295 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of First Trust Nasdaq Bank ETF by 284.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,365 shares of the company’s stock valued at $75,000 after buying an additional 1,750 shares during the period. Principal Securities Inc. lifted its holdings in shares of First Trust Nasdaq Bank ETF by 215.5% in the fourth quarter. Principal Securities Inc. now owns 4,442 shares of the company’s stock valued at $141,000 after buying an additional 3,034 shares during the period. Finally, Concourse Financial Group Securities Inc. acquired a new stake in shares of First Trust Nasdaq Bank ETF in the fourth quarter valued at $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.