First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) Sees Significant Drop in Short Interest

First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 300 shares, a drop of 66.7% from the August 31st total of 900 shares. Based on an average daily trading volume, of 5,900 shares, the short-interest ratio is currently 0.1 days.

First Trust Nasdaq Pharmaceuticals ETF Trading Down 1.6 %

Shares of NASDAQ:FTXH traded down $0.45 during midday trading on Wednesday, hitting $28.55. The stock had a trading volume of 3,805 shares, compared to its average volume of 5,752. First Trust Nasdaq Pharmaceuticals ETF has a 1 year low of $23.85 and a 1 year high of $29.72. The stock has a 50 day moving average price of $28.86 and a two-hundred day moving average price of $27.68. The company has a market capitalization of $18.56 million, a PE ratio of 15.98 and a beta of 0.70.

Institutional Investors Weigh In On First Trust Nasdaq Pharmaceuticals ETF

A number of hedge funds have recently added to or reduced their stakes in FTXH. Janney Montgomery Scott LLC acquired a new stake in First Trust Nasdaq Pharmaceuticals ETF in the first quarter valued at $1,030,000. International Assets Investment Management LLC purchased a new position in shares of First Trust Nasdaq Pharmaceuticals ETF in the 2nd quarter valued at about $73,000. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of First Trust Nasdaq Pharmaceuticals ETF by 5.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,200 shares of the company’s stock valued at $314,000 after purchasing an additional 587 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.