First Trust Low Duration Opportunities ETF (NASDAQ:LMBS) Sees Significant Drop in Short Interest

First Trust Low Duration Opportunities ETF (NASDAQ:LMBS) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 33,149 shares, a drop of 59.9% from the July 30th total of 82,563 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 423,148 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Low Duration Opportunities ETF Price Performance

NASDAQ:LMBS opened at $49.58 on Friday. First Trust Low Duration Opportunities ETF has a one year low of $47.87 and a one year high of $51.98. The firm has a 50-day moving average of $49.66 and a 200-day moving average of $49.87.

First Trust Low Duration Opportunities ETF Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 4.1%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kirkwood Financial Services bought a new position in shares of First Trust Low Duration Opportunities ETF during the 2nd quarter worth approximately $6,337,000. Ameritas Advisory Services LLC increased its position in shares of First Trust Low Duration Opportunities ETF by 58.5% during the second quarter. Ameritas Advisory Services LLC now owns 165,085 shares of the company’s stock valued at $8,218,000 after acquiring an additional 60,927 shares during the last quarter. Kintra Wealth LLC purchased a new stake in shares of First Trust Low Duration Opportunities ETF during the second quarter valued at approximately $1,082,000. PCG Wealth Advisors LLC bought a new stake in First Trust Low Duration Opportunities ETF during the second quarter worth $298,000. Finally, Endeavor Private Wealth Inc. lifted its holdings in First Trust Low Duration Opportunities ETF by 9.0% during the second quarter. Endeavor Private Wealth Inc. now owns 47,338 shares of the company’s stock worth $2,357,000 after acquiring an additional 3,900 shares during the period.

First Trust Low Duration Opportunities ETF Company Profile

The First Trust Low Duration Opportunities ETF (LMBS) is an exchange-traded fund that is based on the Bloomberg U.S. MBS index. The fund is an actively managed fund that invests in a variety of mortgage-backed securities with target duration of less than 3 years. LMBS was launched on Nov 4, 2014 and is managed by First Trust.