First Trust Growth Strength ETF (NASDAQ:FTGS) Stock Short Interest Declines 37.8%

by · The Markets Daily

First Trust Growth Strength ETF (NASDAQ:FTGS – Get Free Report) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 36,446 shares, a drop of 37.8% from the September 30th total of 58,607 shares. Based on an average trading volume of 121,344 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Growth Strength ETF Price Performance

Shares of FTGS stock traded up $0.26 during midday trading on Monday, hitting $37.73. The company had a trading volume of 52,444 shares, compared to its average volume of 131,797. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 23.90 and a beta of 1.02. The company’s 50 day simple moving average is $38.40 and its 200 day simple moving average is $37.00. First Trust Growth Strength ETF has a 52-week low of $33.00 and a 52-week high of $40.12.

First Trust Growth Strength ETF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a dividend of $0.0088 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, September 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC purchased a new position in First Trust Growth Strength ETF during the 3rd quarter valued at about $11,056,000. Integrity Alliance LLC. purchased a new stake in shares of First Trust Growth Strength ETF in the third quarter valued at about $223,000. Signature Equity Partners LLC grew its position in shares of First Trust Growth Strength ETF by 1,704.1% in the third quarter. Signature Equity Partners LLC now owns 17,229 shares of the company’s stock valued at $653,000 after purchasing an additional 16,274 shares during the last quarter. Vise Technologies Inc. grew its position in shares of First Trust Growth Strength ETF by 0.3% in the third quarter. Vise Technologies Inc. now owns 123,051 shares of the company’s stock valued at $4,666,000 after purchasing an additional 361 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in shares of First Trust Growth Strength ETF by 3.0% during the 3rd quarter. MGO One Seven LLC now owns 20,617 shares of the company’s stock worth $782,000 after purchasing an additional 607 shares in the last quarter.

About First Trust Growth Strength ETF

(Get Free Report)

The First Trust Growth Strength ETF (FTGS) is an exchange-traded fund that is based on the The Growth Strength index. The fund tracks an equal-weighted index of 50 well-capitalized, large-cap companies with strong market positions in the US. The fund uses various fundamental metrics to select growth equities. FTGS was launched on Oct 25, 2022 and is managed by First Trust.

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