Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Drops By 57.4%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 1,967 shares, a decrease of 57.4% from the April 30th total of 4,616 shares. Based on an average daily volume of 21,283 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

First Trust SSI Strategic Convertible Securities ETF Price Performance

Shares of NASDAQ FCVT traded up $0.62 during trading on Tuesday, hitting $54.35. 44,529 shares of the company traded hands, compared to its average volume of 28,740. The business’s fifty day moving average is $48.84 and its 200 day moving average is $46.07. First Trust SSI Strategic Convertible Securities ETF has a fifty-two week low of $36.64 and a fifty-two week high of $54.13.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.045 per share. The ex-dividend date was Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 1.0%.

Institutional Investors Weigh In On First Trust SSI Strategic Convertible Securities ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FCVT. Concurrent Investment Advisors LLC increased its position in shares of First Trust SSI Strategic Convertible Securities ETF by 112.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 347,194 shares of the company’s stock worth $14,941,000 after acquiring an additional 183,410 shares in the last quarter. Jane Street Group LLC increased its position in shares of First Trust SSI Strategic Convertible Securities ETF by 645.7% during the second 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 in the last quarter. Private Advisory Group LLC bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the fourth quarter worth about $3,730,000. Royal Bank of Canada increased its position in shares of First Trust SSI Strategic Convertible Securities ETF by 49.9% during the fourth 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 in the last quarter. Finally, Plus Group Wealth Advisors LLC bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the fourth quarter worth about $1,116,000.

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.