First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) Sees Large Decrease in Short Interest

First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 79,200 shares, a decline of 32.8% from the February 28th total of 117,800 shares. Based on an average daily volume of 664,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On First Trust RBA American Industrial Renaissance ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in First Trust RBA American Industrial Renaissance ETF by 136.1% in the 4th quarter. Bank of America Corp DE now owns 3,533,091 shares of the company’s stock worth $272,189,000 after purchasing an additional 2,036,464 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of First Trust RBA American Industrial Renaissance ETF in the fourth quarter worth $137,940,000. Wells Fargo & Company MN bought a new stake in First Trust RBA American Industrial Renaissance ETF during the fourth quarter valued at about $69,810,000. LPL Financial LLC raised its stake in First Trust RBA American Industrial Renaissance ETF by 42.7% during the 4th quarter. LPL Financial LLC now owns 2,654,421 shares of the company’s stock valued at $204,497,000 after purchasing an additional 794,494 shares during the period. Finally, Meitav Investment House Ltd. bought a new stake in shares of First Trust RBA American Industrial Renaissance ETF during the fourth quarter valued at approximately $26,942,000.

First Trust RBA American Industrial Renaissance ETF Price Performance

Shares of First Trust RBA American Industrial Renaissance ETF stock opened at $68.27 on Monday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 22.32 and a beta of 1.25. First Trust RBA American Industrial Renaissance ETF has a 1 year low of $61.36 and a 1 year high of $86.95. The firm’s 50-day moving average is $74.72 and its 200 day moving average is $77.33.

First Trust RBA American Industrial Renaissance ETF Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, March 27th. This is an increase from First Trust RBA American Industrial Renaissance ETF’s previous quarterly dividend of $0.04.

First Trust RBA American Industrial Renaissance ETF Company Profile

The First Trust RBA American Industrial RenaissanceTM ETF (AIRR) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks a multifactor-selected index of equities that can benefit from potential regain in market share of US industrial and community banking sector. AIRR was launched on Mar 10, 2014 and is managed by First Trust.