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

Key Points

• Short interest surged 25.8% in February, rising to 25,715 shares (about 2.0% of the fund) and producing a short-interest ratio of 2.3 days based on average daily volume of 11,383 shares.
• QABA traded at $56.75 (down $0.10) with a market cap of $73.78 million, a P/E of 13.59, and a 52-week range of $45.06–$64.25, while its 50-day and 200-day SMAs sit near $60.03 and $57.69 respectively.
• Several institutional investors recently established or increased positions (including Kestra, Gunpowder Capital/Oliver Wealth, Thurston Springer Miller, Sound Income Strategies and Jane Street), and the ETF tracks the NASDAQ OMX ABA Community Bank index excluding the 50 largest banks.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 25,715 shares, an increase of 25.8% from the February 12th total of 20,440 shares. Approximately 2.0% of the company's stock are short sold. Based on an average daily trading volume, of 11,383 shares, the short-interest ratio is presently 2.3 days. Based on an average daily trading volume, of 11,383 shares, the short-interest ratio is presently 2.3 days. Approximately 2.0% of the company's stock are short sold.

First Trust NASDAQ ABA Community Bank Index Fund Trading Down 0.2%

QABA stock traded down $0.10 during mid-day trading on Friday, hitting $56.75. 8,971 shares of the company were exchanged, compared to its average volume of 12,026. The firm has a fifty day simple moving average of $60.03 and a 200 day simple moving average of $57.69. The company has a market capitalization of $73.78 million, a PE ratio of 13.59 and a beta of 0.81. First Trust NASDAQ ABA Community Bank Index Fund has a twelve month low of $45.06 and a twelve month high of $64.25.

Hedge Funds Weigh In On First Trust NASDAQ ABA Community Bank Index Fund

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

About First Trust NASDAQ ABA Community Bank Index Fund

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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