First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) Short Interest Update

First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 16,500 shares, a drop of 59.2% from the February 13th total of 40,400 shares. Based on an average trading volume of 45,500 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the stock are short sold.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC increased its holdings in First Trust Nasdaq Oil & Gas ETF by 13.3% during the 4th 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 last quarter. Cetera Investment Advisers grew its stake 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 buying an additional 32,029 shares during the last quarter. Truist Financial Corp grew its stake in First Trust Nasdaq Oil & Gas ETF by 2.9% during the 4th quarter. Truist Financial Corp now owns 128,425 shares of the company’s stock worth $3,692,000 after buying an additional 3,578 shares during the last quarter. Raymond James Financial Inc. bought a new position in First Trust Nasdaq Oil & Gas ETF during the 4th quarter worth $3,655,000. Finally, Stifel Financial Corp grew its stake in First Trust Nasdaq Oil & Gas ETF by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 58,725 shares of the company’s stock worth $1,700,000 after buying an additional 1,215 shares during the last quarter.

First Trust Nasdaq Oil & Gas ETF Stock Performance

First Trust Nasdaq Oil & Gas ETF stock traded up $0.84 during midday trading on Friday, reaching $28.98. 18,875 shares of the company were exchanged, compared to its average volume of 45,248. The company has a market capitalization of $157.94 million, a price-to-earnings ratio of 11.26 and a beta of 1.44. The firm’s 50-day simple moving average is $29.79 and its 200-day simple moving average is $29.83. First Trust Nasdaq Oil & Gas ETF has a 1 year low of $27.24 and a 1 year high of $33.72.

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.