First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Short Interest Update

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 499,726 shares, a growth of 30.3% from the February 26th total of 383,551 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 1,568,099 shares, the days-to-cover ratio is presently 0.3 days.

First Trust Morningstar Dividend Leaders Index Fund Price Performance

Shares of FDL stock traded up $0.04 on Friday, hitting $50.36. The stock had a trading volume of 1,117,680 shares, compared to its average volume of 1,253,322. The business has a 50 day moving average of $49.54 and a 200 day moving average of $45.82. First Trust Morningstar Dividend Leaders Index Fund has a 12-month low of $37.29 and a 12-month high of $51.46. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 13.96 and a beta of 0.73.

First Trust Morningstar Dividend Leaders Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be given a $0.4005 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, March 26th.

Hedge Funds Weigh In On First Trust Morningstar Dividend Leaders Index Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new stake in First Trust Morningstar Dividend Leaders Index Fund during the first quarter worth $202,000. Global Retirement Partners LLC bought a new position in First Trust Morningstar Dividend Leaders Index Fund in the 2nd quarter valued at $743,000. Northwestern Mutual Wealth Management Co. increased its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 12.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,733,258 shares of the exchange traded fund’s stock valued at $72,572,000 after purchasing an additional 187,827 shares during the last quarter. Trustmark Bank Trust Department raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 70.0% during the 2nd quarter. Trustmark Bank Trust Department now owns 17,000 shares of the exchange traded fund’s stock worth $712,000 after purchasing an additional 7,000 shares during the period. Finally, VestGen Advisors LLC raised its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 23.9% during the 2nd quarter. VestGen Advisors LLC now owns 175,631 shares of the exchange traded fund’s stock worth $7,531,000 after purchasing an additional 33,829 shares during the period.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.