First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Short Interest Up 789.2% in August

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 14,761 shares, an increase of 789.2% from the July 30th total of 1,660 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 28,991 shares, the short-interest ratio is currently 0.5 days.

First Trust SSI Strategic Convertible Securities ETF Trading Up 1.0%

Shares of NASDAQ:FCVT traded up $0.48 during trading hours on Tuesday, hitting $49.85. The company’s stock had a trading volume of 34,283 shares, compared to its average volume of 28,900. The firm’s fifty day moving average price is $51.06 and its 200 day moving average price is $49.21. First Trust SSI Strategic Convertible Securities ETF has a 52 week low of $40.06 and a 52 week high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be issued a dividend of $0.045 per share. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 21st.

Institutional Trading of First Trust SSI Strategic Convertible Securities ETF

Hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC boosted its position in First Trust SSI Strategic Convertible Securities ETF by 64.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 283,615 shares of the company’s stock valued at $15,251,000 after acquiring an additional 111,050 shares in the last quarter. Continuum Advisory LLC purchased a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter worth $38,000. City Center Advisors LLC purchased a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter worth $215,000. Western Wealth Management LLC bought a new stake in First Trust SSI Strategic Convertible Securities ETF during the first quarter valued at about $35,000. Finally, Bank of America Corp DE boosted its position in First Trust SSI Strategic Convertible Securities ETF by 14.4% during the first quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock valued at $2,039,000 after purchasing an additional 5,805 shares in the last quarter.

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.