First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Sees Large Growth in Short Interest

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 11,871 shares, an increase of 2,074.2% from the May 14th total of 546 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 18,779 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of First Trust Dorsey Wright Momentum & Low Volatility ETF

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF during the third quarter valued at approximately $39,000. O Shaughnessy Asset Management LLC acquired a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF in the 4th quarter worth approximately $111,000. Envestnet Asset Management Inc. purchased a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF during the 3rd quarter worth approximately $201,000. Warner Group LLC purchased a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF during the 3rd quarter worth approximately $346,000. Finally, Fifth Third Bancorp acquired a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF during the 1st quarter valued at $342,000.

First Trust Dorsey Wright Momentum & Low Volatility ETF Trading Up 1.3%

Shares of First Trust Dorsey Wright Momentum & Low Volatility ETF stock traded up $0.46 on Tuesday, reaching $36.04. 5,399 shares of the company were exchanged, compared to its average volume of 11,185. The stock has a fifty day moving average price of $36.11 and a 200-day moving average price of $35.78. The firm has a market capitalization of $72.08 million, a price-to-earnings ratio of 24.91 and a beta of 0.76. First Trust Dorsey Wright Momentum & Low Volatility ETF has a fifty-two week low of $33.60 and a fifty-two week high of $37.50.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0292 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, March 26th.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.