First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) Stock Short Interest Jumps 197.2%

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 31,801 shares, an increase of 197.2% from the August 31st total of 10,699 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 132,177 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF

A number of hedge funds have recently modified their holdings of HYLS. Tucker Asset Management LLC grew its stake in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 460.7% in the second quarter. Tucker Asset Management LLC now owns 628 shares of the company’s stock worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF during the 1st quarter worth $33,000. IFP Advisors Inc lifted its holdings in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 67.3% during the 4th quarter. IFP Advisors Inc now owns 1,330 shares of the company’s stock worth $56,000 after buying an additional 535 shares during the period. Sound Income Strategies LLC lifted its holdings in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 49.5% during the 1st quarter. Sound Income Strategies LLC now owns 1,818 shares of the company’s stock worth $74,000 after buying an additional 602 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 1,010.0% in the 1st quarter. Parallel Advisors LLC now owns 2,775 shares of the company’s stock valued at $113,000 after buying an additional 2,525 shares during the last quarter.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Stock Down 0.1%

NASDAQ:HYLS traded down $0.02 during mid-day trading on Friday, hitting $39.63. 133,985 shares of the company’s stock were exchanged, compared to its average volume of 241,418. The company has a 50 day simple moving average of $40.48 and a 200-day simple moving average of $40.71. First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF has a fifty-two week low of $39.40 and a fifty-two week high of $42.40.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 24th. This is a decrease from First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF’s previous monthly dividend of $0.2250. This represents a $2.64 annualized dividend and a dividend yield of 6.7%.

About First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF

The First Trust Tactical High Yield ETF (HYLS) is an exchange-traded fund that is based on the ICE BoFA US High Yield Constrained index. The fund is an actively managed fund holding up to 130% in long positions in high yield bonds it expects to outperform, and up to 30% short positions in issues it expects to underperform. HYLS was launched on Feb 27, 2013 and is managed by First Trust.