The short interest in the First Trust Indxx Global Natural Resources Income ETF (NASDAQ: FTRI) experienced a substantial decline in January 2023. As of January 30, short interest fell to 56,417 shares, marking a decrease of 51.4% from the 116,060 shares reported on January 15. With an average daily trading volume of 80,990 shares, this results in a short-interest ratio of 0.7 days, indicating that approximately 0.8% of the ETF’s shares are currently short sold.
Investors have been actively adjusting their positions in the ETF. A number of institutional investors and hedge funds made significant moves during the third quarter. For instance, Benjamin Edwards Inc. initiated a new position valued at approximately $1,625,000. Additionally, Bank of America Corp increased its stake by 86.2%, bringing its total holdings to 196,911 shares worth $2,992,000 after acquiring an additional 91,175 shares.
Another notable investor, US Bancorp, raised its holdings by an astonishing 12,108.5%, now owning 65,926 shares valued at $1,002,000. Flow Traders U.S. LLC also boosted its position by 65.6%, acquiring an additional 56,640 shares to reach a total of 142,937 shares worth $2,172,000.
Moreover, Security National Bank significantly increased its stake by 10,845.2% in the fourth quarter, now owning 43,343 shares valued at $679,000.
Stock Performance and Market Position
On January 30, 2023, the First Trust Indxx Global Natural Resources Income ETF traded up by $0.21, closing at $18.20. The trading volume for the day was 40,804 shares, compared to an average volume of 66,383 shares. The ETF currently holds a market capitalization of $124.67 million, with a price-to-earnings (PE) ratio of 15.66 and a beta of 0.79. Over the past year, the ETF has seen a low of $11.39 and a high of $18.48. Its 50-day moving average price stands at $16.63, while the 200-day moving average is at $15.54.
Investment Focus and Goals
The First Trust Indxx Global Natural Resources Income ETF operates with the investment objective of tracking results that correspond to the performance of the ISE Global Copper Index. This index is designed to represent public companies involved in the copper mining industry, including those engaged in mining, refining, or exploration activities.
Investors interested in natural resource sectors, particularly copper, may find this ETF an appealing option for diversifying their portfolios. With significant changes in short interest and active participation from institutional investors, the First Trust Indxx Global Natural Resources Income ETF is positioned as a noteworthy player in the market.
