First Trust Value Line Dividend Index Fund (NYSEARCA:FVD – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 103,194 shares, an increase of 52.4% from the March 15th total of 67,727 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 1,073,794 shares, the days-to-cover ratio is currently 0.1 days.
First Trust Value Line Dividend Index Fund Trading Up 0.2%
NYSEARCA FVD traded up $0.09 during trading on Tuesday, hitting $48.07. 497,150 shares of the company’s stock were exchanged, compared to its average volume of 1,015,885. The company has a market cap of $8.26 billion, a PE ratio of 18.85 and a beta of 0.70. First Trust Value Line Dividend Index Fund has a fifty-two week low of $42.01 and a fifty-two week high of $50.23. The stock’s 50 day moving average price is $48.36 and its two-hundred day moving average price is $46.98.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of FVD. Ameriprise Financial Inc. increased its stake in shares of First Trust Value Line Dividend Index Fund by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 5,579,921 shares of the company’s stock valued at $249,413,000 after buying an additional 758,020 shares during the period. UBS Group AG increased its stake in shares of First Trust Value Line Dividend Index Fund by 2.4% in the third quarter. UBS Group AG now owns 3,906,667 shares of the company’s stock valued at $180,644,000 after buying an additional 91,095 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Trust Value Line Dividend Index Fund by 84.1% in the third quarter. JPMorgan Chase & Co. now owns 2,773,717 shares of the company’s stock valued at $128,257,000 after buying an additional 1,266,968 shares during the period. Stifel Financial Corp increased its stake in shares of First Trust Value Line Dividend Index Fund by 0.7% in the fourth quarter. Stifel Financial Corp now owns 2,320,271 shares of the company’s stock valued at $106,918,000 after buying an additional 16,800 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of First Trust Value Line Dividend Index Fund by 1.2% in the third quarter. HighTower Advisors LLC now owns 1,880,046 shares of the company’s stock valued at $86,933,000 after buying an additional 22,359 shares during the period.
About First Trust Value Line Dividend Index Fund
First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.
Further Reading
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