First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sees Large Increase in Short Interest

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 171,518 shares, a growth of 237.1% from the May 31st total of 50,884 shares. Based on an average trading volume of 128,620 shares, the short-interest ratio is currently 1.3 days. Currently, 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter worth about $27,000. Ameriflex Group Inc. purchased a new position in First Trust NASDAQ Technology Dividend Index Fund during the 3rd quarter valued at about $30,000. Root Financial Partners LLC bought a new stake in First Trust NASDAQ Technology Dividend Index Fund during the first quarter worth about $33,000. Torren Management LLC bought a new stake in First Trust NASDAQ Technology Dividend Index Fund during the first quarter worth about $37,000. Finally, Capital Investment Advisory Services LLC grew its holdings in First Trust NASDAQ Technology Dividend Index Fund by 202.5% in the fourth quarter. Capital Investment Advisory Services LLC now owns 481 shares of the company’s stock worth $47,000 after purchasing an additional 322 shares during the period.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

Shares of NASDAQ:TDIV opened at $112.11 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 25.63 and a beta of 1.15. The stock has a 50 day moving average price of $113.80 and a 200-day moving average price of $103.27. First Trust NASDAQ Technology Dividend Index Fund has a 52-week low of $88.58 and a 52-week high of $128.50.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 25th will be paid a $0.4231 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund’s previous quarterly dividend of $0.32. This represents a $1.69 annualized dividend and a yield of 1.5%.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.