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

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the target 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. Based on an average trading volume of 2,700 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

First Trust Nasdaq Pharmaceuticals ETF Price Performance

FTXH stock traded down $0.04 on Friday, hitting $27.33. 1,868 shares of the company were exchanged, compared to its average volume of 3,806. The stock has a market capitalization 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’s fifty day moving average is $27.82 and its two-hundred day moving average is $27.98.

First Trust Nasdaq Pharmaceuticals ETF Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. LPL Financial LLC grew its position in First Trust Nasdaq Pharmaceuticals ETF by 9.3% during the fourth quarter. LPL Financial LLC now owns 55,876 shares of the company’s stock valued at $1,507,000 after acquiring an additional 4,776 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 2,384 shares during the period. Summit Investment Advisors Inc. increased 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 worth $382,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Vivaldi Capital Management LP increased its position in First Trust Nasdaq Pharmaceuticals ETF by 15.6% during the 4th quarter. Vivaldi Capital Management LP now owns 8,677 shares of the company’s stock worth $243,000 after purchasing an additional 1,171 shares in the last quarter.

First Trust Nasdaq Pharmaceuticals ETF Company Profile

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.