Short Interest in First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Declines By 37.5%

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 500 shares, a drop of 37.5% from the February 28th total of 800 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 2,700 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Nasdaq Pharmaceuticals ETF Trading Down 0.1 %

First Trust Nasdaq Pharmaceuticals ETF stock traded down $0.04 during mid-day trading on Friday, reaching $27.33. The company’s stock had a trading volume of 1,868 shares, compared to its average volume of 3,806. The firm has a market cap of $13.66 million, a price-to-earnings ratio of 21.02 and a beta of 0.70. First Trust Nasdaq Pharmaceuticals ETF has a twelve month low of $25.73 and a twelve month high of $29.72. The business has a 50 day moving average price of $27.82 and a 200-day moving average price of $27.98.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be given a dividend of $0.0992 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, March 27th.

Institutional Investors Weigh In On First Trust Nasdaq Pharmaceuticals ETF

Several institutional investors and hedge funds have recently bought and sold shares of FTXH. Vivaldi Capital Management LP grew its holdings in shares of First Trust Nasdaq Pharmaceuticals ETF by 15.6% during the fourth quarter. Vivaldi Capital Management LP now owns 8,677 shares of the company’s stock valued at $243,000 after purchasing an additional 1,171 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in First Trust Nasdaq Pharmaceuticals ETF by 13.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,173 shares of the company’s stock valued at $382,000 after purchasing an additional 1,633 shares during the period. Envestnet Asset Management Inc. grew its stake in First Trust Nasdaq Pharmaceuticals ETF by 17.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,403 shares of the company’s stock worth $442,000 after buying an additional 2,384 shares during the last quarter. Finally, LPL Financial LLC increased its position in First Trust Nasdaq Pharmaceuticals ETF by 9.3% in the fourth quarter. LPL Financial LLC now owns 55,876 shares of the company’s stock worth $1,507,000 after buying an additional 4,776 shares during the period.

About First Trust Nasdaq Pharmaceuticals ETF

The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is an exchange-traded fund that is based on the Nasdaq US Smart Pharmaceuticals index. The fund tracks the 30 most liquid US pharmaceutical companies, weighted according to factors related to value, volatility, and growth. FTXH was launched on Sep 20, 2016 and is managed by First Trust.