First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sees Significant Decrease in Short Interest

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 212,477 shares, a decline of 61.4% from the July 30th total of 549,873 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 634,118 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

NYSEARCA FDL traded up $0.23 during mid-day trading on Friday, reaching $53.16. 561,244 shares of the stock were exchanged, compared to its average volume of 1,002,322. The stock has a market capitalization of $8.01 billion, a PE ratio of 13.96 and a beta of 0.58. The business’s fifty day simple moving average is $51.20 and its 200 day simple moving average is $50.53. First Trust Morningstar Dividend Leaders Index Fund has a 1-year low of $42.10 and a 1-year high of $53.76.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley boosted its position in First Trust Morningstar Dividend Leaders Index Fund by 9.9% during the 4th quarter. Morgan Stanley now owns 8,670,709 shares of the exchange traded fund’s stock worth $384,459,000 after acquiring an additional 778,170 shares during the period. Raymond James Financial Inc. lifted its stake in First Trust Morningstar Dividend Leaders Index Fund by 15.2% during the fourth quarter. Raymond James Financial Inc. now owns 5,197,530 shares of the exchange traded fund’s stock valued at $230,458,000 after buying an additional 686,116 shares in the last quarter. Ameriprise Financial Inc. grew its position in First Trust Morningstar Dividend Leaders Index Fund by 17.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,911,177 shares of the exchange traded fund’s stock worth $163,766,000 after purchasing an additional 590,206 shares in the last quarter. Perryman Financial Advisory Inc. AD acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the fourth quarter worth $10,522,000. Finally, Kestra Advisory Services LLC lifted its stake in First Trust Morningstar Dividend Leaders Index Fund by 46.1% in the 1st quarter. Kestra Advisory Services LLC now owns 696,641 shares of the exchange traded fund’s stock worth $35,389,000 after acquiring an additional 219,965 shares in the last quarter.

About First Trust Morningstar Dividend Leaders Index Fund

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.