First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Sees Significant Increase in Short Interest

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 1,458 shares, a growth of 972.1% from the September 30th total of 136 shares. Based on an average trading volume of 13,418 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 1.5% during the first quarter. Bank of America Corp DE now owns 20,435 shares of the company’s stock valued at $826,000 after acquiring an additional 302 shares during the period. Western Wealth Management LLC acquired a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the 1st quarter worth about $146,000. Concurrent Investment Advisors LLC increased its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 6.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 91,063 shares of the company’s stock worth $4,106,000 after acquiring an additional 5,868 shares during the period. Finally, Cetera Investment Advisers lifted its position in First Trust Dorsey Wright Momentum & Dividend ETF by 36.2% in the 1st quarter. Cetera Investment Advisers now owns 35,748 shares of the company’s stock valued at $1,446,000 after purchasing an additional 9,493 shares during the last quarter.

First Trust Dorsey Wright Momentum & Dividend ETF Trading Up 0.6%

DDIV stock traded up $0.26 during mid-day trading on Monday, hitting $45.64. 1,286 shares of the company were exchanged, compared to its average volume of 6,823. The firm has a fifty day simple moving average of $45.44 and a 200 day simple moving average of $44.32. The company has a market capitalization of $73.02 million, a PE ratio of 17.21 and a beta of 0.93. First Trust Dorsey Wright Momentum & Dividend ETF has a twelve month low of $38.69 and a twelve month high of $47.84.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.1757 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a negative change from First Trust Dorsey Wright Momentum & Dividend ETF’s previous quarterly dividend of $0.1843. This represents a $0.70 annualized dividend and a dividend yield of 1.5%.

First Trust Dorsey Wright Momentum & Dividend ETF Company Profile

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.