First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) Sees Large Drop in Short Interest

First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 8,700 shares, a drop of 42.8% from the March 15th total of 15,200 shares. Based on an average daily trading volume, of 23,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the shares of the company are sold short.

First Trust Nasdaq Food & Beverage ETF Stock Down 1.5 %

First Trust Nasdaq Food & Beverage ETF stock opened at $22.85 on Thursday. The stock has a market cap of $26.28 million, a price-to-earnings ratio of 20.61 and a beta of 0.60. First Trust Nasdaq Food & Beverage ETF has a 12 month low of $21.70 and a 12 month high of $26.05. The business has a 50 day moving average price of $23.04 and a two-hundred day moving average price of $23.51.

First Trust Nasdaq Food & Beverage ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a dividend of $0.0963 per share. This represents a $0.39 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, March 27th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in First Trust Nasdaq Food & Beverage ETF stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,326 shares of the company’s stock, valued at approximately $630,000. Wealth Enhancement Advisory Services LLC owned approximately 2.73% of First Trust Nasdaq Food & Beverage ETF as of its most recent filing with the Securities and Exchange Commission.

About First Trust Nasdaq Food & Beverage ETF

The First Trust Nasdaq Food & Beverage ETF (FTXG) is an exchange-traded fund that is based on the Nasdaq US Smart Food & Beverage index. The fund follows a liquidity-selected, multi-factor-weighted index of US food & beverage companies. FTXG was launched on Sep 20, 2016 and is managed by First Trust.