First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sees Large Drop in Short Interest

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 50,884 shares, a decrease of 43.8% from the May 14th total of 90,611 shares. Based on an average trading volume of 120,690 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its position in First Trust NASDAQ Technology Dividend Index Fund by 5,532.0% in the first quarter. Parallel Advisors LLC now owns 5,632 shares of the company’s stock valued at $527,000 after acquiring an additional 5,532 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 32.3% during the first quarter. NewEdge Advisors LLC now owns 397,640 shares of the company’s stock worth $37,243,000 after purchasing an additional 97,148 shares in the last quarter. Bank of America Corp DE increased its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 7.6% during the first quarter. Bank of America Corp DE now owns 1,485,495 shares of the company’s stock worth $139,131,000 after purchasing an additional 104,853 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of First Trust NASDAQ Technology Dividend Index Fund by 22.3% in the 1st quarter. Centaurus Financial Inc. now owns 3,112 shares of the company’s stock valued at $291,000 after purchasing an additional 567 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 7.4% in the 1st quarter. Arkadios Wealth Advisors now owns 10,463 shares of the company’s stock valued at $980,000 after purchasing an additional 723 shares during the period.

First Trust NASDAQ Technology Dividend Index Fund Stock Down 0.2%

TDIV stock opened at $119.01 on Tuesday. The business has a 50 day moving average price of $110.49 and a 200 day moving average price of $102.19. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 25.63 and a beta of 1.15. First Trust NASDAQ Technology Dividend Index Fund has a fifty-two week low of $85.58 and a fifty-two week high of $128.50.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a dividend of $0.3153 per share. This represents a $1.26 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, March 26th.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.