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

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) was the target of a significant decline in short interest in 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. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Nasdaq Oil & Gas ETF Trading Down 0.6 %

NASDAQ FTXN traded down $0.19 on Friday, hitting $29.93. 22,536 shares of the company’s stock were exchanged, compared to its average volume of 46,035. 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 has a 52 week low of $27.24 and a 52 week high of $33.72. The stock has a 50-day moving average of $29.76 and a 200-day moving average of $29.84.

First Trust Nasdaq Oil & Gas ETF Cuts Dividend

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

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

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in First Trust Nasdaq Oil & Gas ETF in the 4th quarter worth approximately $3,655,000. LPL Financial LLC grew its holdings in First Trust Nasdaq Oil & Gas ETF by 13.3% in the fourth quarter. LPL Financial LLC now owns 506,608 shares of the company’s stock worth $14,565,000 after purchasing an additional 59,471 shares during the period. Sigma Planning Corp bought a new stake in shares of First Trust Nasdaq Oil & Gas ETF in the 4th quarter worth $1,152,000. Marshall Investment Management LLC bought a new stake in First Trust Nasdaq Oil & Gas ETF in the 4th quarter worth approximately $1,036,000. Finally, Cetera Investment Advisers increased its stake in shares of First Trust Nasdaq Oil & Gas ETF by 31.5% in the 4th quarter. Cetera Investment Advisers now owns 133,693 shares of the company’s stock worth $3,844,000 after purchasing an additional 32,029 shares in the last quarter.

About First Trust Nasdaq Oil & Gas ETF

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.