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

Key Points

• The First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA) experienced a significant increase in short interest, rising by 81.7% in September to a total of 10,900 shares.
• The fund recently increased its quarterly dividend to $0.3523 per share, marking an annualized yield of 2.5%, up from the previous dividend of $0.28.
• Several hedge funds have recently altered their positions in QABA, with notable investments including Lumbard & Kellner LLC, which purchased a stake valued at approximately $3 million.

First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA - ) saw a large growth in short interest in September. As of September 15th, there was short interest totaling 10,900 shares, a growth of 81.7% from the August 31st total of 6,000 shares. Based on an average daily volume of 37,800 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 37,800 shares, the short-interest ratio is presently 0.3 days.

First Trust NASDAQ ABA Community Bank Index Fund Stock Performance

Shares of NASDAQ:QABA opened at $56.03 on Friday. First Trust NASDAQ ABA Community Bank Index Fund has a 52 week low of $45.06 and a 52 week high of $64.30. The company's fifty day moving average is $56.64 and its 200-day moving average is $54.09. The company has a market capitalization of $106.46 million, a PE ratio of 13.59 and a beta of 0.92.

First Trust NASDAQ ABA Community Bank Index Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were issued a dividend of $0.3523 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.41 dividend on an annualized basis and a yield of 2.5%. This is an increase from First Trust NASDAQ ABA Community Bank Index Fund's previous quarterly dividend of $0.28.

Institutional Investors Weigh In On First Trust NASDAQ ABA Community Bank Index Fund

A number of hedge funds have recently added to or reduced their stakes in QABA. Lumbard & Kellner LLC bought a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the 1st quarter worth about $3,017,000. Cambridge Investment Research Advisors Inc. grew its holdings in First Trust NASDAQ ABA Community Bank Index Fund by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,452 shares of the company's stock worth $2,376,000 after acquiring an additional 1,470 shares during the last quarter. Cetera Investment Advisers grew its holdings in First Trust NASDAQ ABA Community Bank Index Fund by 9.3% during the 1st quarter. Cetera Investment Advisers now owns 6,200 shares of the company's stock worth $324,000 after acquiring an additional 530 shares during the last quarter. Virtu Financial LLC bought a new stake in First Trust NASDAQ ABA Community Bank Index Fund during the 1st quarter worth about $1,094,000. Finally, Baird Financial Group Inc. grew its holdings in First Trust NASDAQ ABA Community Bank Index Fund by 11.8% during the 1st quarter. Baird Financial Group Inc. now owns 6,038 shares of the company's stock worth $316,000 after acquiring an additional 636 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.