First Trust Expanded Technology ETF (NYSEARCA:XPND) Sees Significant Increase in Short Interest

First Trust Expanded Technology ETF (NYSEARCA:XPND) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 8,862 shares, an increase of 6,933.3% from the March 15th total of 126 shares. Based on an average daily volume of 4,672 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.6% of the shares of the company are sold short.

First Trust Expanded Technology ETF Price Performance

First Trust Expanded Technology ETF stock opened at $34.74 on Friday. The firm has a market cap of $52.11 million, a price-to-earnings ratio of 32.72 and a beta of 1.24. First Trust Expanded Technology ETF has a fifty-two week low of $25.59 and a fifty-two week high of $38.47. The firm has a fifty day moving average price of $33.98 and a two-hundred day moving average price of $35.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of XPND. IFP Advisors Inc acquired a new position in First Trust Expanded Technology ETF during the 3rd quarter worth $38,000. Advisory Services Network LLC bought a new stake in First Trust Expanded Technology ETF during the third quarter worth about $45,000. Raymond James Financial Inc. bought a new stake in shares of First Trust Expanded Technology ETF during the second quarter valued at approximately $71,000. International Assets Investment Management LLC bought a new stake in shares of First Trust Expanded Technology ETF during the fourth quarter valued at approximately $103,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of First Trust Expanded Technology ETF during the second quarter valued at approximately $117,000.

About First Trust Expanded Technology ETF

The First Trust Expanded Technology ETF (XPND) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in US stocks whose businesses are derived from or dependent on technology. XPND was launched on Jun 14, 2021 and is managed by First Trust.