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 largest holdings are seeing active analyst coverage and mixed sentiment that could be driving interest in the fund. Citigroup (8.1% weight) received fresh support, with Bank of America Securities reiterating a Buy rating and a higher price target, while a Citi analyst’s bullish call on Voyager Technologies underscores the bank’s influence in growth sectors like space and defense. Among other major weights, Wells Fargo (7.9%) and U.S. Bancorp (3.9%) both drew new Buy ratings and upbeat outlooks that emphasize their earnings potential in a stronger U.S. economy, whereas Truist Financial (7.5%) and M&T Bank (3.9%) face more cautious views, including Hold and Sell ratings and negative insider sentiment, highlighting ongoing concerns around regional bank risk and profitability. Bank of America and JPMorgan Chase (each 7.9%) continue to be framed favorably in recent research as large‑cap beneficiaries of improved capital markets and higher-fee activity, with Jefferies clearly preferring Bank of America as the stronger long-term buy among the two.