Short Interest in First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Grows By 30.3%

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 499,726 shares, an increase of 30.3% from the February 26th total of 383,551 shares. Based on an average daily trading volume, of 1,568,099 shares, the short-interest ratio is currently 0.3 days. Approximately 0.4% of the company’s stock are sold short.

First Trust Morningstar Dividend Leaders Index Fund Trading Up 0.4%

NYSEARCA:FDL traded up $0.22 during midday trading on Monday, hitting $50.58. 1,218,243 shares of the company were exchanged, compared to its average volume of 1,252,721. The company has a fifty day simple moving average of $49.63 and a 200 day simple moving average of $45.86. First Trust Morningstar Dividend Leaders Index Fund has a fifty-two week low of $37.29 and a fifty-two week high of $51.46. The company has a market capitalization of $7.02 billion, a PE ratio of 13.96 and a beta of 0.73.

First Trust Morningstar Dividend Leaders Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be issued a dividend of $0.4005 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.60 annualized dividend and a dividend yield of 3.2%.

Institutional Trading of First Trust Morningstar Dividend Leaders Index Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth approximately $30,000. Providence Capital Advisors LLC purchased a new stake in First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter valued at approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter valued at approximately $37,000. First Command Advisory Services Inc. acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter valued at approximately $38,000. Finally, CX Institutional purchased a new position in shares of First Trust Morningstar Dividend Leaders Index Fund during the third quarter worth approximately $39,000.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.