First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Stock Short Interest Declines 57.0%

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 56,979 shares, a drop of 57.0% from the August 31st total of 132,604 shares. Based on an average daily volume of 220,547 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

First Trust NASDAQ Technology Dividend Index Fund Stock Down 1.9%

NASDAQ:TDIV traded down $2.13 during midday trading on Monday, reaching $111.95. The stock had a trading volume of 29,522 shares, compared to its average volume of 135,918. The firm has a fifty day simple moving average of $113.87 and a two-hundred day simple moving average of $110.18. First Trust NASDAQ Technology Dividend Index Fund has a 12-month low of $90.24 and a 12-month high of $128.50. The stock has a market cap of $4.40 billion, a P/E ratio of 25.63 and a beta of 1.17.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be paid a $0.3497 dividend. This is a drop from First Trust NASDAQ Technology Dividend Index Fund’s previous quarterly dividend of $0.4231. The ex-dividend date is Thursday, September 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%.

Institutional Trading of First Trust NASDAQ Technology Dividend Index Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 9.3% during the second quarter. Envestnet Asset Management Inc. now owns 838,304 shares of the company’s stock worth $96,304,000 after acquiring an additional 71,483 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new stake in First Trust NASDAQ Technology Dividend Index Fund in the second quarter valued at about $72,000. Concorde Asset Management LLC boosted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 9.2% in the 2nd quarter. Concorde Asset Management LLC now owns 52,841 shares of the company’s stock valued at $6,070,000 after purchasing an additional 4,446 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in First Trust NASDAQ Technology Dividend Index Fund by 415.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 62,657 shares of the company’s stock valued at $7,198,000 after purchasing an additional 50,505 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in First Trust NASDAQ Technology Dividend Index Fund by 6.8% during the 2nd quarter. NewEdge Advisors LLC now owns 424,544 shares of the company’s stock worth $48,772,000 after purchasing an additional 26,904 shares during the period.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.