Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Grows By 245.5%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 6,796 shares, an increase of 245.5% from the May 14th total of 1,967 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 23,084 shares, the days-to-cover ratio is presently 0.3 days.

First Trust SSI Strategic Convertible Securities ETF Stock Performance

Shares of FCVT stock traded up $0.75 during mid-day trading on Friday, hitting $52.82. 12,582 shares of the stock were exchanged, compared to its average volume of 27,868. The stock’s fifty day simple moving average is $50.29 and its two-hundred day simple moving average is $46.69. First Trust SSI Strategic Convertible Securities ETF has a 12-month low of $37.16 and a 12-month high of $54.69.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were given a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 21st.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caldwell Trust Co acquired a new position in shares of First Trust SSI Strategic Convertible Securities ETF during the 4th quarter worth approximately $28,000. Rockefeller Capital Management L.P. raised its holdings in First Trust SSI Strategic Convertible Securities ETF by 97.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock valued at $30,000 after acquiring an additional 340 shares during the last quarter. Western Wealth Management LLC acquired a new position in First Trust SSI Strategic Convertible Securities ETF in the 1st quarter valued at $35,000. Merkkuri Wealth Advisors LLC acquired a new position in First Trust SSI Strategic Convertible Securities ETF in the 1st quarter valued at $52,000. Finally, Advisory Services Network LLC acquired a new position in First Trust SSI Strategic Convertible Securities ETF in the 3rd quarter valued at $78,000.

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.