First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Sees Large Decrease in Short Interest

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 67,727 shares, a decrease of 39.6% from the February 26th total of 112,090 shares. Based on an average trading volume of 905,054 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

First Trust Value Line Dividend Index Fund Stock Performance

Shares of NYSEARCA:FVD traded down $0.03 during midday trading on Friday, hitting $46.65. 430,085 shares of the company’s stock traded hands, compared to its average volume of 1,082,327. The company has a market cap of $8.27 billion, a PE ratio of 18.85 and a beta of 0.73. The firm’s fifty day moving average price is $48.40 and its two-hundred day moving average price is $46.85. First Trust Value Line Dividend Index Fund has a twelve month low of $40.06 and a twelve month high of $50.23.

First Trust Value Line Dividend Index Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be given a $0.257 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.03 annualized dividend and a yield of 2.2%.

Institutional Investors Weigh In On First Trust Value Line Dividend Index Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew 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 in the last quarter. Ameriprise Financial Inc. lifted its position in First Trust Value Line Dividend Index Fund by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,579,921 shares of the company’s stock worth $249,413,000 after acquiring an additional 758,020 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in First Trust Value Line Dividend Index Fund by 93.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 571,178 shares of the company’s stock worth $26,320,000 after acquiring an additional 276,348 shares in the last quarter. Modern Wealth Management LLC purchased a new position in First Trust Value Line Dividend Index Fund in the 2nd quarter worth approximately $12,010,000. Finally, Claris Financial LLC purchased a new position in First Trust Value Line Dividend Index Fund in the 4th quarter worth approximately $11,465,000.

First Trust Value Line Dividend Index Fund Company Profile

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.