First Trust Dividend Strength ETF (NASDAQ:FTDS) Sees Large Growth in Short Interest

First Trust Dividend Strength ETF (NASDAQ:FTDS) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 3,530 shares, an increase of 340.7% from the June 30th total of 801 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 2,693 shares, the short-interest ratio is currently 1.3 days.

First Trust Dividend Strength ETF Price Performance

First Trust Dividend Strength ETF stock traded down $0.08 during trading hours on Monday, reaching $63.71. The company had a trading volume of 636 shares, compared to its average volume of 2,135. First Trust Dividend Strength ETF has a 12-month low of $52.21 and a 12-month high of $63.79. The company has a 50-day moving average price of $61.11 and a 200 day moving average price of $60.82. The firm has a market cap of $38.23 million, a price-to-earnings ratio of 14.53 and a beta of 0.82.

First Trust Dividend Strength ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.1928 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.2%.

Institutional Investors Weigh In On First Trust Dividend Strength ETF

Several institutional investors and hedge funds have recently modified their holdings of FTDS. Kestra Advisory Services LLC purchased a new stake in First Trust Dividend Strength ETF in the fourth quarter worth about $95,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of First Trust Dividend Strength ETF in the fourth quarter worth $169,000. D.A. Davidson & CO. purchased a new stake in First Trust Dividend Strength ETF during the 1st quarter valued at about $209,000. Truist Financial Corp bought a new stake in shares of First Trust Dividend Strength ETF during the fourth quarter valued at approximately $220,000. Finally, Key Client Fiduciary Advisors LLC bought a new stake in shares of First Trust Dividend Strength ETF in the 4th quarter worth $230,000.

About First Trust Dividend Strength ETF

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio. FTDS was launched on Dec 6, 2006 and is managed by First Trust.