First Trust Senior Loan ETF (NASDAQ:FTSL) Sees Large Volume Increase – Should You Buy?

First Trust Senior Loan ETF (NASDAQ:FTSL) shares saw unusually-strong trading volume on Monday . Approximately 707,692 shares traded hands during mid-day trading, an increase of 114% from the previous session’s volume of 330,886 shares.The stock last traded at $44.66 and had previously closed at $44.51.

First Trust Senior Loan ETF Price Performance

The company has a 50 day moving average of $45.18 and a 200 day moving average of $45.65.

First Trust Senior Loan ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be paid a $0.235 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Thursday, March 26th.

Institutional Investors Weigh In On First Trust Senior Loan ETF

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in First Trust Senior Loan ETF by 22.4% in the 4th quarter. Brighton Jones LLC now owns 5,860 shares of the company’s stock worth $271,000 after purchasing an additional 1,073 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of First Trust Senior Loan ETF during the first quarter worth $5,254,000. WCG Wealth Advisors LLC acquired a new position in shares of First Trust Senior Loan ETF during the second quarter valued at $552,000. RPg Family Wealth Advisory LLC lifted its stake in shares of First Trust Senior Loan ETF by 5.5% during the second quarter. RPg Family Wealth Advisory LLC now owns 162,516 shares of the company’s stock valued at $7,458,000 after acquiring an additional 8,521 shares during the period. Finally, Twin Peaks Wealth Advisors LLC boosted its holdings in First Trust Senior Loan ETF by 37.6% in the second quarter. Twin Peaks Wealth Advisors LLC now owns 53,273 shares of the company’s stock valued at $2,450,000 after acquiring an additional 14,559 shares during the last quarter.

About First Trust Senior Loan ETF

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.