First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) Stock Short Interest Jumps 2,009.4%

First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 352,230 shares, a growth of 2,009.4% from the August 31st total of 16,698 shares. Based on an average trading volume of 679,597 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the company are sold short.

First Trust Enhanced Short Maturity ETF Price Performance

Shares of NASDAQ FTSM traded up $0.01 during mid-day trading on Friday, hitting $59.70. The company had a trading volume of 38,804 shares, compared to its average volume of 836,233. First Trust Enhanced Short Maturity ETF has a 1 year low of $59.67 and a 1 year high of $60.91. The stock’s 50-day moving average price is $59.79 and its 200-day moving average price is $59.83.

First Trust Enhanced Short Maturity ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 31st were issued a dividend of $0.2040 per share. This represents a $2.45 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 31st. This is a drop from First Trust Enhanced Short Maturity ETF’s previous monthly dividend of $0.2060.

Institutional Investors Weigh In On First Trust Enhanced Short Maturity ETF

A number of institutional investors and hedge funds have recently modified their holdings of FTSM. BDFS Capital LLC purchased a new position in First Trust Enhanced Short Maturity ETF in the 4th quarter worth approximately $63,291,000. Kirkwood Financial Services purchased a new stake in shares of First Trust Enhanced Short Maturity ETF during the second quarter valued at approximately $26,070,000. Second Line Capital LLC grew its holdings in shares of First Trust Enhanced Short Maturity ETF by 1,588.1% in the second quarter. Second Line Capital LLC now owns 351,126 shares of the company’s stock worth $21,044,000 after purchasing an additional 330,326 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of First Trust Enhanced Short Maturity ETF in the fourth quarter worth approximately $15,607,000. Finally, Balboa Wealth Partners increased its stake in shares of First Trust Enhanced Short Maturity ETF by 564.2% in the first quarter. Balboa Wealth Partners now owns 304,852 shares of the company’s stock worth $18,224,000 after buying an additional 258,957 shares during the period.

About First Trust Enhanced Short Maturity ETF

The First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund that is based on the Bloomberg U.S. Short Treasury Bond index. The fund is actively-managed to invest in a variety of fixed income securities with a target maturity of less than three years. FTSM was launched on Aug 5, 2014 and is managed by First Trust.