FTXO Volume Surges as Citigroup, Big Banks Draw Buys

First Trust Nasdaq Bank ETF (FTXO) has seen unusual trading volume, which is 18× higher than its average daily volume.

The ETF’s top holding Citigroup, along with major weights Bank of America and PNC Financial, all drew fresh bullish analyst attention, with multiple firms reiterating Buy ratings and issuing price targets that imply notable upside from current levels. M&T Bank also saw a flurry of optimistic research, as several analysts maintained Buy ratings and highlighted double-digit upside potential despite cautious insider trading trends. JPMorgan featured in the news as it assessed Netflix’s recent price hikes, estimating they could add about $1.7 billion in annualized revenue but arguing much of that benefit is already embedded in the streamer’s long-term forecasts, while Wells Fargo made headlines for raising its price target on Alphabet and reaffirming a positive view on the stock.