First Trust Managed Futures Strategy Fund (NYSEARCA:FMF – Get Free Report) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 38,219 shares, a growth of 76.4% from the May 31st total of 21,671 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 22,950 shares, the days-to-cover ratio is currently 1.7 days.
Hedge Funds Weigh In On First Trust Managed Futures Strategy Fund
A number of hedge funds have recently modified their holdings of FMF. Sound Income Strategies LLC purchased a new stake in shares of First Trust Managed Futures Strategy Fund during the fourth quarter worth about $26,000. Parallel Advisors LLC bought a new position in First Trust Managed Futures Strategy Fund in the first quarter worth about $53,000. Advisory Services Network LLC purchased a new position in shares of First Trust Managed Futures Strategy Fund during the 3rd quarter worth approximately $65,000. Ascentis Independent Advisors purchased a new position in shares of First Trust Managed Futures Strategy Fund in the 1st quarter valued at approximately $121,000. Finally, Tucker Asset Management LLC bought a new stake in shares of First Trust Managed Futures Strategy Fund during the fourth quarter valued at approximately $183,000.
First Trust Managed Futures Strategy Fund Trading Down 0.7%
Shares of FMF stock opened at $49.73 on Thursday. First Trust Managed Futures Strategy Fund has a fifty-two week low of $45.02 and a fifty-two week high of $52.44. The stock has a 50 day moving average price of $51.23 and a two-hundred day moving average price of $49.96.
About First Trust Managed Futures Strategy Fund
The First Trust Managed Futures Strategy Fund (FMF) is an exchange-traded fund that is based on the Morningstar Diversified Futures index. The fund seeks positive returns uncorrelated with major asset classes. The actively managed fund uses futures in commodity (50%), currency (25%) and equity (25%) indexes. FMF was launched on Aug 1, 2013 and is managed by First Trust.
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