First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Short Interest Up 270.7% in January

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 15,200 shares, an increase of 270.7% from the January 15th total of 4,100 shares. Based on an average daily volume of 43,800 shares, the days-to-cover ratio is presently 0.3 days.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new position in First Trust Nasdaq Oil & Gas ETF during the fourth quarter worth $34,000. Geneos Wealth Management Inc. bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at about $45,000. Global Retirement Partners LLC boosted its position in shares of First Trust Nasdaq Oil & Gas ETF by 108.1% in the fourth quarter. Global Retirement Partners LLC now owns 2,895 shares of the company’s stock valued at $83,000 after acquiring an additional 1,504 shares during the period. Huntington National Bank bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at about $125,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the fourth quarter valued at about $234,000.

First Trust Nasdaq Oil & Gas ETF Price Performance

FTXN stock traded up $0.05 during midday trading on Thursday, reaching $29.47. 2,742 shares of the company were exchanged, compared to its average volume of 42,556. The business has a 50-day moving average price of $29.69 and a two-hundred day moving average price of $29.99. First Trust Nasdaq Oil & Gas ETF has a one year low of $27.46 and a one year high of $33.72. The firm has a market capitalization of $160.61 million, a price-to-earnings ratio of 6.47 and a beta of 1.44.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.1768 per share. The ex-dividend date was Friday, December 13th.

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.