First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Sees Significant Drop in Short Interest

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 26,200 shares, a drop of 31.9% from the February 28th total of 38,500 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily volume of 53,100 shares, the days-to-cover ratio is presently 0.5 days.

First Trust NASDAQ ABA Community Bank Index Fund Trading Down 1.6 %

Shares of First Trust NASDAQ ABA Community Bank Index Fund stock traded down $0.84 on Friday, reaching $52.11. 136,391 shares of the company were exchanged, compared to its average volume of 60,313. First Trust NASDAQ ABA Community Bank Index Fund has a one year low of $42.52 and a one year high of $64.30. The company has a 50-day moving average of $55.52 and a 200 day moving average of $56.04. The company has a market capitalization of $114.64 million, a price-to-earnings ratio of 13.73 and a beta of 0.92.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 27th will be paid a $0.3069 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.23 dividend on an annualized basis and a yield of 2.36%. This is a boost from First Trust NASDAQ ABA Community Bank Index Fund’s previous quarterly dividend of $0.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QABA. Wells Fargo & Company MN raised its holdings in shares of First Trust NASDAQ ABA Community Bank Index Fund by 178.2% in the 4th quarter. Wells Fargo & Company MN now owns 109,794 shares of the company’s stock valued at $6,099,000 after purchasing an additional 70,324 shares during the period. LPL Financial LLC raised its stake in First Trust NASDAQ ABA Community Bank Index Fund by 79.2% in the fourth quarter. LPL Financial LLC now owns 151,165 shares of the company’s stock valued at $8,398,000 after buying an additional 66,817 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund in the fourth quarter valued at approximately $2,012,000. Independent Advisor Alliance acquired a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund in the fourth quarter valued at approximately $1,686,000. Finally, Stifel Financial Corp bought a new position in shares of First Trust NASDAQ ABA Community Bank Index Fund during the 3rd quarter worth approximately $1,099,000.

First Trust NASDAQ ABA Community Bank Index Fund Company Profile

The First Trust NASDAQ ABA Community Bank Index Fund (QABA) is an exchange-traded fund that is based on the NASDAQ OMX ABA Community Bank index. The fund tracks an index of NASDAQ-listed banks and thrifts, excluding the 50 largest. QABA was launched on Jun 29, 2009 and is managed by First Trust.