First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Significant Growth in Short Interest

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 119,162 shares, an increase of 55.1% from the February 26th total of 76,825 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 166,099 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FTQI. Ankerstar Wealth LLC purchased a new position in First Trust NASDAQ BuyWrite Income ETF in the 4th quarter worth approximately $33,000. Sound Income Strategies LLC lifted its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 971.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,143 shares of the company’s stock worth $45,000 after acquiring an additional 1,943 shares during the last quarter. Advisory Services Network LLC purchased a new position in First Trust NASDAQ BuyWrite Income ETF in the third quarter worth $143,000. Sunbelt Securities Inc. grew its position in First Trust NASDAQ BuyWrite Income ETF by 275.6% in the third quarter. Sunbelt Securities Inc. now owns 7,512 shares of the company’s stock worth $155,000 after acquiring an additional 5,512 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in First Trust NASDAQ BuyWrite Income ETF in the second quarter valued at $178,000.

First Trust NASDAQ BuyWrite Income ETF Stock Down 1.4%

NASDAQ:FTQI traded down $0.27 during trading hours on Friday, hitting $19.50. 112,195 shares of the company’s stock traded hands, compared to its average volume of 264,664. The firm has a market cap of $733.20 million, a P/E ratio of 32.31 and a beta of 0.59. First Trust NASDAQ BuyWrite Income ETF has a 52 week low of $16.25 and a 52 week high of $21.15. The business’s fifty day simple moving average is $20.51 and its two-hundred day simple moving average is $20.69.

First Trust NASDAQ BuyWrite Income ETF Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be given a dividend of $0.207 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Thursday, March 26th.

First Trust NASDAQ BuyWrite Income ETF Company Profile

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.