First Trust Dividend Strength ETF (NASDAQ:FTDS) Sees Large Increase in Short Interest

First Trust Dividend Strength ETF (NASDAQ:FTDS) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 5,213 shares, an increase of 20.5% from the March 15th total of 4,325 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average trading volume of 1,059 shares, the days-to-cover ratio is currently 4.9 days.

First Trust Dividend Strength ETF Stock Up 0.2%

FTDS opened at $61.17 on Friday. The stock has a market cap of $30.59 million, a price-to-earnings ratio of 14.53 and a beta of 0.90. First Trust Dividend Strength ETF has a twelve month low of $46.57 and a twelve month high of $63.06. The company’s 50-day moving average price is $61.18 and its two-hundred day moving average price is $58.22.

First Trust Dividend Strength ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a $0.3109 dividend. The ex-dividend date was Thursday, March 26th. This is a positive change from First Trust Dividend Strength ETF’s previous quarterly dividend of $0.25. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in First Trust Dividend Strength ETF in the fourth quarter valued at about $95,000. Northwestern Mutual Wealth Management Co. purchased a new position in First Trust Dividend Strength ETF in the fourth quarter valued at about $169,000. Truist Financial Corp purchased a new position in First Trust Dividend Strength ETF in the fourth quarter valued at about $220,000. Key Client Fiduciary Advisors LLC bought a new position in First Trust Dividend Strength ETF during the fourth quarter worth about $230,000. Finally, PFG Investments LLC bought a new position in First Trust Dividend Strength ETF during the fourth quarter worth about $305,000.

About First Trust Dividend Strength ETF

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio. FTDS was launched on Dec 6, 2006 and is managed by First Trust.