First Trust Nasdaq Transportation ETF Sees Surge in Short Interest

The First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) experienced a significant spike in short interest during the month of November. Detailed reports indicate that short interest reached 1,000 shares by November 30th, which marks a substantial rise of 42.9% from the previously recorded 700 shares on November 15th. This short interest surge comes against the backdrop of FTXR having an average daily volume of about 11,700 shares, translating to a days-to-cover ratio of just 0.1 days.

Hedge Funds and Institutional Investors Increase Positions

Recent movements by hedge funds and other institutional investors have shown a growing interest in FTXR. Notably, Flow Traders U.S. LLC made a new investment in the ETF with a valuation around $1,347,000. Meanwhile, Goldman Sachs Group Inc. increased its position by 42.9%, reaching a holding of 156,151 shares valued at approximately $5,045,000. Additionally, Jane Street Group LLC raised its stake by 646.9%, now owning 145,229 shares worth about $4,692,000. Positions have also been bumped up by Citadel Advisors LLC and Advisor Group Holdings Inc., with both firms escalating their investments during different quarters of the fiscal year.

Market Performance of FTXR

An overview of the market performance shows that FTXR shares started trading at $30.30 on a recent Friday. The ETF has a market capitalization standing at $40.90 million, operates with a price-to-earnings ratio of 15.59, and maintains a beta of 1.37. Over the past year, FTXR has fluctuated between a low of $24.76 and a high of $31.26. The fund's price trends can also be traced through its 50-day simple moving average of $27.15 and a 200-day simple moving average of $28.44.

Dividend Declarations

FTXR has also announced a quarterly dividend. Shareholders recorded as of Monday, September 25th received $0.0717 per share, with the ex-dividend date set for the preceding Friday, September 22nd. Calculated on an annual basis, this equates to a dividend yield of 0.95% or $0.29 per share.

Understanding FTXR

The First Trust Nasdaq Transportation ETF is an exchange-traded fund that follows the Nasdaq US Smart Transportation index, comprised of 30 U.S. transportation companies selected based on liquidity, and weighted according to volatility, value, and growth parameters. Launched on September 20, 2016, FTXR is professionally managed by First Trust.

FTXR, ShortInterest, Investment