First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Sees Large Increase in Short Interest

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 14,761 shares, a growth of 789.2% from the July 30th total of 1,660 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 28,991 shares, the short-interest ratio is presently 0.5 days.

First Trust SSI Strategic Convertible Securities ETF Stock Up 0.5%

Shares of FCVT stock traded up $0.23 on Thursday, hitting $50.29. 42,255 shares of the stock were exchanged, compared to its average volume of 29,073. The firm’s 50 day moving average is $50.99 and its two-hundred day moving average is $49.25. First Trust SSI Strategic Convertible Securities ETF has a one year low of $40.06 and a one year high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be paid a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 21st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Caldwell Trust Co purchased a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the fourth quarter worth $28,000. Rockefeller Capital Management L.P. raised its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 97.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares during the period. Western Wealth Management LLC bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the 1st quarter valued at $35,000. Continuum Advisory LLC purchased a new stake in First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter worth about $38,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in First Trust SSI Strategic Convertible Securities ETF during the 1st quarter worth about $52,000.

First Trust SSI Strategic Convertible Securities ETF Company Profile

The First Trust SSI Strategic Convertible Securities ETF (FCVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of convertible securities from within and outside the US. FCVT was launched on Nov 4, 2015 and is managed by First Trust.