The First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG – Get Rating) was the target of a significant drop in short interest in July. As of July 15, there was short interest totaling 58,300 shares, down 61.1% from the total of 149,900 shares as of June 30. Based on an average daily trading volume of 709,800 shares, the short-term interest rate ratio is currently 0.1 day.

Institutional entries and exits

Hedge funds and other institutional investors have recently been buying and selling stocks. CWM LLC acquired a new equity stake in First Trust Nasdaq Food & Beverage ETF during the second quarter valued at approximately $10,232,000. Truist Financial Corp acquired a new stake in the shares of First Trust Nasdaq Food & Beverage ETF during the second quarter for a value of approximately $9,635,000. NewSquare Capital LLC acquired a new position in First Trust Nasdaq Food & Beverage ETF in Q2, valued at approximately $8,242,000. Commonwealth Equity Services LLC acquired a new position in First Trust Nasdaq Food & Beverage ETF in Q2, valued at approximately $6,981,000. Finally, MinichMacGregor Wealth Management LLC acquired a new position in First Trust Nasdaq Food & Beverage ETF in Q2, valued at approximately $4,639,000.

First Trust Nasdaq Food & Beverage ETF trades up 0.6%

FTXG shares were up $0.15 in Friday’s midday session, hitting $27.05. 556 shares were traded, against an average volume of 354,851. The First Trust Nasdaq Food & Beverage ETF has a 52-week low of $24.00 and a 52-week high of $29.66. The stock has a fifty-day simple moving average of $26.01 and a 200-day simple moving average of $26.61.

First Trust Nasdaq Food & Beverage ETF cuts dividends

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The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Monday, June 27 received a dividend of $0.075 per share. The ex-dividend date was Friday, June 24. This represents an annualized dividend of $0.30 and a dividend yield of 1.11%.

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