First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Significant Increase in Short Interest

First Trust Indxx NextG ETF (NASDAQ:NXTG) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,200 shares, an increase of 22.2% from the February 13th total of 1,800 shares. Based on an average daily volume of 10,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

First Trust Indxx NextG ETF Price Performance

Shares of NASDAQ NXTG traded down $0.59 during trading hours on Tuesday, hitting $87.81. 5,162 shares of the stock were exchanged, compared to its average volume of 8,263. The firm has a market capitalization of $373.19 million, a P/E ratio of 21.52 and a beta of 0.89. First Trust Indxx NextG ETF has a one year low of $73.37 and a one year high of $91.29. The company’s 50 day moving average is $87.45 and its 200 day moving average is $86.54.

Hedge Funds Weigh In On First Trust Indxx NextG ETF

Several large investors have recently made changes to their positions in NXTG. First Horizon Advisors Inc. acquired a new stake in First Trust Indxx NextG ETF in the 3rd quarter valued at approximately $44,000. Spire Wealth Management bought a new stake in shares of First Trust Indxx NextG ETF in the fourth quarter valued at approximately $151,000. Riverchase Wealth Management LLC acquired a new stake in shares of First Trust Indxx NextG ETF in the fourth quarter worth $275,000. Ashton Thomas Private Wealth LLC increased its position in First Trust Indxx NextG ETF by 7.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,588 shares of the company’s stock worth $306,000 after acquiring an additional 263 shares during the period. Finally, Morey & Quinn Wealth Partners LLC acquired a new position in First Trust Indxx NextG ETF during the 4th quarter valued at $410,000.

About First Trust Indxx NextG ETF

The First Trust IndXX NextG ETF (NXTG) is an exchange-traded fund that is based on the Indxx 5G & NextG Thematic index. The fund tracks a tiered-weighted index of global equities related to next generation digital cellular technologies. NXTG was launched on Feb 17, 2011 and is managed by First Trust.