First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) Stock Short Interest Rises 2,216.1%

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 736,558 shares, an increase of 2,216.1% from the September 15th total of 31,801 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 227,830 shares, the days-to-cover ratio is currently 3.2 days.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Stock Up 0.1%

NASDAQ:HYLS traded up $0.04 during trading hours on Friday, hitting $39.50. The stock had a trading volume of 385,743 shares, compared to its average volume of 252,240. The business has a 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $40.62. First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF has a 1-year low of $39.01 and a 1-year high of $42.40.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.22 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Thursday, September 24th. This is a decrease from First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF’s previous monthly dividend of $0.2250.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC lifted its position in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 460.7% during the second quarter. Tucker Asset Management LLC now owns 628 shares of the company’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF during the first quarter valued at $33,000. Sound Income Strategies LLC grew its position in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 49.5% during the first quarter. Sound Income Strategies LLC now owns 1,818 shares of the company’s stock worth $74,000 after acquiring an additional 602 shares during the last quarter. Parallel Advisors LLC grew its position in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 1,010.0% during the first quarter. Parallel Advisors LLC now owns 2,775 shares of the company’s stock worth $113,000 after acquiring an additional 2,525 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF in the 2nd quarter worth about $128,000.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Company Profile

The First Trust Tactical High Yield ETF (HYLS) is an exchange-traded fund that is based on the ICE BoFA US High Yield Constrained index. The fund is an actively managed fund holding up to 130% in long positions in high yield bonds it expects to outperform, and up to 30% short positions in issues it expects to underperform. HYLS was launched on Feb 27, 2013 and is managed by First Trust.