First Trust Dividend Strength ETF (NASDAQ:FTDS) Sees Large Decline in Short Interest

First Trust Dividend Strength ETF (NASDAQ:FTDS) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 2,922 shares, a decline of 27.7% from the February 12th total of 4,040 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 618 shares, the short-interest ratio is presently 4.7 days. Based on an average daily volume of 618 shares, the short-interest ratio is presently 4.7 days. Approximately 0.6% of the company’s stock are short sold.

First Trust Dividend Strength ETF Stock Down 0.2%

First Trust Dividend Strength ETF stock traded down $0.12 during mid-day trading on Friday, reaching $59.50. 98 shares of the company’s stock were exchanged, compared to its average volume of 1,367. First Trust Dividend Strength ETF has a twelve month low of $44.26 and a twelve month high of $63.06. The company has a market cap of $29.75 million, a P/E ratio of 14.53 and a beta of 0.96. The company has a fifty day moving average of $60.74 and a 200-day moving average of $57.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FTDS. Kestra Advisory Services LLC acquired a new position in First Trust Dividend Strength ETF during the 4th quarter worth $95,000. LPL Financial LLC raised its position in First Trust Dividend Strength ETF by 5.7% in the 4th quarter. LPL Financial LLC now owns 138,676 shares of the company’s stock valued at $7,834,000 after purchasing an additional 7,495 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of First Trust Dividend Strength ETF in the 4th quarter valued at about $169,000. Truist Financial Corp purchased a new position in shares of First Trust Dividend Strength ETF in the 4th quarter valued at about $220,000. Finally, Key Client Fiduciary Advisors LLC acquired a new position in shares of First Trust Dividend Strength ETF during the fourth quarter worth about $230,000.

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.