First Trust Senior Loan ETF (NASDAQ:FTSL) Sees Significant Decline in Short Interest

First Trust Senior Loan ETF (NASDAQ:FTSL) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 188,102 shares, a decline of 35.3% from the February 26th total of 290,658 shares. Based on an average daily trading volume, of 375,897 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the company’s stock are sold short.

First Trust Senior Loan ETF Trading Down 0.4%

NASDAQ FTSL traded down $0.16 during trading hours on Friday, reaching $44.51. 386,927 shares of the company’s stock traded hands, compared to its average volume of 334,528. First Trust Senior Loan ETF has a 52-week low of $44.30 and a 52-week high of $46.19. The firm has a 50-day simple moving average of $45.18 and a 200 day simple moving average of $45.65.

First Trust Senior Loan ETF Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 26th will be paid a $0.235 dividend. The ex-dividend date is Thursday, March 26th. This represents a c) annualized dividend and a dividend yield of 6.3%.

Institutional Investors Weigh In On First Trust Senior Loan ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of First Trust Senior Loan ETF by 10.5% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 172,645 shares of the company’s stock valued at $7,914,000 after purchasing an additional 16,409 shares during the period. Assetmark Inc. increased its position in shares of First Trust Senior Loan ETF by 114.7% during the 3rd quarter. Assetmark Inc. now owns 93,582 shares of the company’s stock valued at $4,290,000 after purchasing an additional 49,990 shares during the last quarter. Algorithmic Investment Models LLC bought a new position in shares of First Trust Senior Loan ETF in the 3rd quarter worth approximately $2,456,000. Mayflower Financial Advisors LLC bought a new position in shares of First Trust Senior Loan ETF in the 3rd quarter worth approximately $879,000. Finally, HBW Advisory Services LLC boosted its holdings in shares of First Trust Senior Loan ETF by 66.1% in the third quarter. HBW Advisory Services LLC now owns 29,393 shares of the company’s stock worth $1,347,000 after buying an additional 11,693 shares during the last quarter.

First Trust Senior Loan ETF Company Profile

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.