First Trust Indxx NextG ETF (NASDAQ:NXTG) Sees Large Growth in Short Interest

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

First Trust Indxx NextG ETF Trading Up 0.1 %

Shares of NXTG traded up $0.05 during mid-day trading on Wednesday, hitting $87.86. The company’s stock had a trading volume of 4,939 shares, compared to its average volume of 8,250. The company’s 50-day moving average is $87.48 and its 200-day moving average is $86.56. First Trust Indxx NextG ETF has a 52-week low of $73.37 and a 52-week high of $91.29. The firm has a market capitalization of $373.40 million, a price-to-earnings ratio of 21.52 and a beta of 0.89.

Institutional Trading of First Trust Indxx NextG ETF

Hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. purchased a new stake in shares of First Trust Indxx NextG ETF during the 3rd quarter worth $44,000. Spire Wealth Management bought a new position in First Trust Indxx NextG ETF in the fourth quarter worth about $151,000. Riverchase Wealth Management LLC bought a new position in First Trust Indxx NextG ETF in the fourth quarter worth about $275,000. Ashton Thomas Private Wealth LLC lifted its position in shares of 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 valued at $306,000 after buying an additional 263 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC bought a new stake in shares of First Trust Indxx NextG ETF in the 4th quarter valued at about $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.