First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 27.2% to 18,725 shares as of March 13 (down from 25,715 on Feb 26), representing about 1.4% of shares short and a short-interest ratio of 1.2 days.
• Several institutions recently initiated or increased positions in QABA, including Kestra Advisory, Gunpowder Capital/Oliver Wealth, Thurston Springer Miller (up 178.6%), Sound Income Strategies, and Jane Street.
• The fund declared a quarterly dividend of $0.3419 per share (annualized $1.37, a 2.4% yield) with an ex-dividend date of March 26 and payment on March 31; QABA was trading around $56.92 with a market cap of $74 million and a P/E of 13.59.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 18,725 shares, a decline of 27.2% from the February 26th total of 25,715 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,758 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QABA. Kestra Advisory Services LLC bought a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the 4th quarter worth about $73,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of First Trust NASDAQ ABA Community Bank Index Fund during the fourth quarter valued at approximately $75,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of First Trust NASDAQ ABA Community Bank Index Fund by 178.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,257 shares of the company's stock valued at $128,000 after purchasing an additional 1,447 shares in the last quarter. Sound Income Strategies LLC bought a new position in First Trust NASDAQ ABA Community Bank Index Fund in the 4th quarter worth approximately $364,000. Finally, Jane Street Group LLC acquired a new position in First Trust NASDAQ ABA Community Bank Index Fund during the 2nd quarter worth $364,000.

First Trust NASDAQ ABA Community Bank Index Fund Trading Down 1.4%

NASDAQ:QABA opened at $56.92 on Friday. The firm has a 50 day moving average of $59.79 and a 200-day moving average of $57.60. First Trust NASDAQ ABA Community Bank Index Fund has a 1 year low of $45.06 and a 1 year high of $64.25. The stock has a market capitalization of $74.00 million, a P/E ratio of 13.59 and a beta of 0.81.

First Trust NASDAQ ABA Community Bank Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.3419 per share. This represents a $1.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, March 26th.

First Trust NASDAQ ABA Community Bank Index Fund Company Profile

The First Trust NASDAQ ABA Community Bank Index Fund (QABA) is an exchange-traded fund that is based on the NASDAQ OMX ABA Community Bank index. The fund tracks an index of NASDAQ-listed banks and thrifts, excluding the 50 largest. QABA was launched on Jun 29, 2009 and is managed by First Trust.

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