First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Stock Short Interest Jumps 167.1%

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) saw a large growth in short interest in October. As of October 30th, there was short interest totaling 3,894 shares, a growth of 167.1% from the October 15th total of 1,458 shares. Based on an average daily trading volume, of 3,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.2% of the shares of the company are short sold.

First Trust Dorsey Wright Momentum & Dividend ETF Trading Down 0.1%

Shares of DDIV opened at $45.74 on Friday. The firm has a market cap of $73.18 million, a PE ratio of 14.81 and a beta of 0.93. The firm has a fifty day simple moving average of $45.06 and a two-hundred day simple moving average of $44.50. First Trust Dorsey Wright Momentum & Dividend ETF has a 1-year low of $38.69 and a 1-year high of $47.84.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a $0.1757 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.70 annualized dividend and a yield of 1.5%. This is a negative change from First Trust Dorsey Wright Momentum & Dividend ETF’s previous quarterly dividend of $0.1843.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DDIV. Western Wealth Management LLC purchased a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the 1st quarter worth approximately $146,000. Bank of America Corp DE grew its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 1.5% during the 1st quarter. Bank of America Corp DE now owns 20,435 shares of the company’s stock valued at $826,000 after buying an additional 302 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the third quarter valued at approximately $385,000. Kestra Advisory Services LLC bought a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the third quarter valued at approximately $371,000. Finally, Harbour Investments Inc. bought a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the third quarter valued at approximately $235,000.

About First Trust Dorsey Wright Momentum & Dividend ETF

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.