Short Interest in First Trust Dividend Strength ETF (NASDAQ:FTDS) Increases By 48.0%

First Trust Dividend Strength ETF (NASDAQ:FTDS) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 4,325 shares, a growth of 48.0% from the February 26th total of 2,922 shares. Based on an average daily volume of 633 shares, the days-to-cover ratio is currently 6.8 days. Currently, 0.9% of the company’s stock are sold short.

Institutional Trading of First Trust Dividend Strength ETF

Hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in First Trust Dividend Strength ETF in the fourth quarter worth approximately $95,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of First Trust Dividend Strength ETF in the 4th quarter valued at approximately $169,000. Truist Financial Corp acquired a new stake in shares of First Trust Dividend Strength ETF in the 4th quarter valued at $220,000. Key Client Fiduciary Advisors LLC acquired a new stake in shares of First Trust Dividend Strength ETF in the 4th quarter valued at $230,000. Finally, PFG Investments LLC purchased a new stake in shares of First Trust Dividend Strength ETF during the 4th quarter worth $305,000.

First Trust Dividend Strength ETF Stock Down 0.8%

NASDAQ FTDS traded down $0.49 during trading hours on Friday, hitting $59.93. 946 shares of the company were exchanged, compared to its average volume of 1,325. The firm has a market cap of $29.97 million, a price-to-earnings ratio of 14.53 and a beta of 0.96. The company has a 50 day moving average of $60.96 and a two-hundred day moving average of $57.67. First Trust Dividend Strength ETF has a 52-week low of $44.26 and a 52-week high of $63.06.

First Trust Dividend Strength ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be given a dividend of $0.3109 per share. This is a boost from First Trust Dividend Strength ETF’s previous quarterly dividend of $0.25. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, March 26th.

About First Trust Dividend Strength ETF

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio. FTDS was launched on Dec 6, 2006 and is managed by First Trust.