First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Short Interest Update

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,411 shares, a decline of 64.5% from the May 31st total of 6,796 shares. Based on an average trading volume of 19,241 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On First Trust SSI Strategic Convertible Securities ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in First Trust SSI Strategic Convertible Securities ETF by 14.4% in the first quarter. Royal Bank of Canada now owns 70,695 shares of the company’s stock worth $2,468,000 after acquiring an additional 8,908 shares in the last quarter. Jane Street Group LLC increased its stake in First Trust SSI Strategic Convertible Securities ETF by 50.2% during the first quarter. Jane Street Group LLC now owns 17,876 shares of the company’s stock worth $624,000 after acquiring an additional 5,974 shares during the last quarter. JPMorgan Chase & Co. raised its position in First Trust SSI Strategic Convertible Securities ETF by 23.7% during the second quarter. JPMorgan Chase & Co. now owns 12,963 shares of the company’s stock valued at $503,000 after purchasing an additional 2,487 shares during the period. Raymond James Financial Inc. raised its position in First Trust SSI Strategic Convertible Securities ETF by 3.3% during the third quarter. Raymond James Financial Inc. now owns 89,532 shares of the company’s stock valued at $3,829,000 after purchasing an additional 2,844 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 5.6% in the 3rd quarter. Bank of America Corp DE now owns 40,958 shares of the company’s stock valued at $1,752,000 after purchasing an additional 2,177 shares during the last quarter.

First Trust SSI Strategic Convertible Securities ETF Stock Up 1.7%

Shares of FCVT traded up $0.87 during mid-day trading on Monday, hitting $53.17. 10,862 shares of the stock were exchanged, compared to its average volume of 27,056. First Trust SSI Strategic Convertible Securities ETF has a 52-week low of $38.28 and a 52-week high of $54.90. The firm has a 50-day moving average of $51.70 and a two-hundred day moving average of $47.45.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 25th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, June 25th. This represents a c) dividend on an annualized basis and a yield of 1.0%.

About First Trust SSI Strategic Convertible Securities ETF

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.