First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Sees Large Growth in Short Interest

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 989 shares, an increase of 74.1% from the September 15th total of 568 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 21,220 shares, the days-to-cover ratio is presently 0.0 days.

First Trust SSI Strategic Convertible Securities ETF Price Performance

NASDAQ:FCVT traded down $1.02 on Friday, reaching $45.18. 4,473 shares of the company’s stock were exchanged, compared to its average volume of 29,252. The stock has a fifty day simple moving average of $49.46 and a 200-day simple moving average of $50.16. First Trust SSI Strategic Convertible Securities ETF has a 52 week low of $41.00 and a 52 week high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a $0.0450 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.54 annualized dividend and a yield of 1.2%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC grew its position in shares of First Trust SSI Strategic Convertible Securities ETF by 64.4% in the second quarter. Concurrent Investment Advisors LLC now owns 283,615 shares of the company’s stock valued at $15,251,000 after purchasing an additional 111,050 shares in the last quarter. City Center Advisors LLC bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter valued at $215,000. Western Wealth Management LLC purchased a new stake in First Trust SSI Strategic Convertible Securities ETF during the 1st quarter worth about $35,000. Cetera Investment Advisers lifted its holdings in First Trust SSI Strategic Convertible Securities ETF by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 32,850 shares of the company’s stock worth $1,451,000 after purchasing an additional 931 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in First Trust SSI Strategic Convertible Securities ETF by 14.4% in the 1st quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock worth $2,039,000 after purchasing an additional 5,805 shares during the period.

First Trust SSI Strategic Convertible Securities ETF Company Profile

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.