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

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 568 shares, a decrease of 96.3% from the August 31st total of 15,257 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 20,399 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FCVT. Concurrent Investment Advisors LLC grew its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 64.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 283,615 shares of the company’s stock valued at $15,251,000 after purchasing an additional 111,050 shares during the period. Continuum Advisory LLC bought a new position in shares of First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter worth approximately $38,000. Bank of America Corp DE boosted its stake in First Trust SSI Strategic Convertible Securities ETF by 14.4% in the 1st quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock valued at $2,039,000 after buying an additional 5,805 shares in the last quarter. Cetera Investment Advisers boosted its stake in First Trust SSI Strategic Convertible Securities ETF by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 32,850 shares of the company’s stock valued at $1,451,000 after buying an additional 931 shares in the last quarter. Finally, City Center Advisors LLC bought a new stake in First Trust SSI Strategic Convertible Securities ETF in the second quarter valued at $215,000.

First Trust SSI Strategic Convertible Securities ETF Trading Up 0.2%

FCVT opened at $49.47 on Friday. The firm’s fifty day moving average price is $49.75 and its two-hundred day moving average price is $49.76. First Trust SSI Strategic Convertible Securities ETF has a fifty-two week low of $41.00 and a fifty-two week high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be given a dividend of $0.0450 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, September 24th.

About First Trust SSI Strategic Convertible Securities ETF

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.