First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Sees Large Growth in Short Interest

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 989 shares, a growth of 74.1% from the September 15th total of 568 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 21,220 shares, the short-interest ratio is currently 0.0 days.

First Trust SSI Strategic Convertible Securities ETF Stock Down 0.7%

Shares of FCVT traded down $0.31 during trading hours on Thursday, hitting $45.85. 25,687 shares of the stock were exchanged, compared to its average volume of 29,359. First Trust SSI Strategic Convertible Securities ETF has a 12-month low of $41.00 and a 12-month high of $54.90. The stock’s 50-day moving average price is $49.54 and its two-hundred day moving average price is $50.14.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a $0.0450 dividend. The ex-dividend date was Thursday, September 24th. This represents a $0.54 dividend on an annualized basis and a yield of 1.2%.

Institutional Investors Weigh In On First Trust SSI Strategic Convertible Securities ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCVT. Concurrent Investment Advisors LLC grew its holdings in shares of First Trust SSI Strategic Convertible Securities ETF by 64.4% during the second quarter. Concurrent Investment Advisors LLC now owns 283,615 shares of the company’s stock worth $15,251,000 after buying an additional 111,050 shares in the last quarter. Bank of America Corp DE raised its position in shares of First Trust SSI Strategic Convertible Securities ETF by 14.4% in the first quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock valued at $2,039,000 after buying an additional 5,805 shares during the last quarter. Cetera Investment Advisers raised its position in shares of First Trust SSI Strategic Convertible Securities ETF by 2.9% in the first quarter. Cetera Investment Advisers now owns 32,850 shares of the company’s stock valued at $1,451,000 after buying an additional 931 shares during the last quarter. Milestones Private Investment Advisors LLC raised its position in shares of First Trust SSI Strategic Convertible Securities ETF by 13.4% in the first quarter. Milestones Private Investment Advisors LLC now owns 27,583 shares of the company’s stock valued at $1,219,000 after buying an additional 3,255 shares during the last quarter. Finally, Hershey Financial Advisers LLC lifted its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 3.6% in the first quarter. Hershey Financial Advisers LLC now owns 24,336 shares of the company’s stock worth $1,075,000 after buying an additional 846 shares in the last quarter.

First Trust SSI Strategic Convertible Securities ETF Company Profile

The First Trust SSI Strategic Convertible Securities ETF (FCVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of convertible securities from within and outside the US. FCVT was launched on Nov 4, 2015 and is managed by First Trust.