Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Declines By 68.6%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 1,660 shares, a decrease of 68.6% from the July 15th total of 5,294 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 64,065 shares, the short-interest ratio is presently 0.0 days.

First Trust SSI Strategic Convertible Securities ETF Price Performance

FCVT stock traded up $0.08 during trading hours on Friday, reaching $51.75. 32,137 shares of the stock were exchanged, compared to its average volume of 29,277. The firm’s 50-day moving average is $51.36 and its 200-day moving average is $48.99. First Trust SSI Strategic Convertible Securities ETF has a 12 month low of $39.22 and a 12 month high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 21st were given a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, July 21st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in First Trust SSI Strategic Convertible Securities ETF by 112.0% in the 4th quarter. Concurrent Investment Advisors LLC now owns 347,194 shares of the company’s stock valued at $14,941,000 after buying an additional 183,410 shares during the last quarter. Jane Street Group LLC boosted its position in First Trust SSI Strategic Convertible Securities ETF by 645.7% during the 2nd quarter. Jane Street Group LLC now owns 133,299 shares of the company’s stock worth $5,173,000 after acquiring an additional 115,423 shares during the last quarter. Royal Bank of Canada boosted its position in First Trust SSI Strategic Convertible Securities ETF by 49.9% during the 4th quarter. Royal Bank of Canada now owns 88,861 shares of the company’s stock worth $3,824,000 after acquiring an additional 29,590 shares during the last quarter. Plus Group Wealth Advisors LLC bought a new position in shares of First Trust SSI Strategic Convertible Securities ETF during the 4th quarter worth approximately $1,116,000. Finally, Hershey Financial Advisers LLC bought a new position in shares of First Trust SSI Strategic Convertible Securities ETF during the 4th quarter worth approximately $1,011,000.

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.