First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Short Interest Down 37.5% in March

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 500 shares, a decline of 37.5% from the February 28th total of 800 shares. Based on an average trading volume of 2,700 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

First Trust Nasdaq Pharmaceuticals ETF Price Performance

Shares of FTXH stock traded up $0.26 on Monday, hitting $27.53. The stock had a trading volume of 1,321 shares, compared to its average volume of 3,797. The business has a 50 day moving average of $27.82 and a 200 day moving average of $27.98. First Trust Nasdaq Pharmaceuticals ETF has a 12-month low of $25.73 and a 12-month high of $29.72. The stock has a market cap of $13.76 million, a price-to-earnings ratio of 21.02 and a beta of 0.70.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 27th will be given a dividend of $0.0992 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FTXH. LPL Financial LLC increased its holdings in First Trust Nasdaq Pharmaceuticals ETF by 9.3% in the 4th quarter. LPL Financial LLC now owns 55,876 shares of the company’s stock worth $1,507,000 after acquiring an additional 4,776 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of First Trust Nasdaq Pharmaceuticals ETF by 17.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,403 shares of the company’s stock worth $442,000 after purchasing an additional 2,384 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of First Trust Nasdaq Pharmaceuticals ETF by 13.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,173 shares of the company’s stock valued at $382,000 after purchasing an additional 1,633 shares during the period. Finally, Vivaldi Capital Management LP lifted its stake in shares of First Trust Nasdaq Pharmaceuticals ETF by 15.6% during the 4th quarter. Vivaldi Capital Management LP now owns 8,677 shares of the company’s stock valued at $243,000 after buying an additional 1,171 shares in the last quarter.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.