First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Sees Significant Growth in Short Interest

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 1,458 shares, a growth of 972.1% from the September 30th total of 136 shares. Based on an average daily volume of 13,418 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Trading of First Trust Dorsey Wright Momentum & Dividend ETF

Several hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the first quarter worth $146,000. Bank of America Corp DE increased its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 1.5% during the first quarter. Bank of America Corp DE now owns 20,435 shares of the company’s stock valued at $826,000 after purchasing an additional 302 shares during the period. Cetera Investment Advisers increased its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 36.2% during the first quarter. Cetera Investment Advisers now owns 35,748 shares of the company’s stock valued at $1,446,000 after purchasing an additional 9,493 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 6.9% during the second quarter. Concurrent Investment Advisors LLC now owns 91,063 shares of the company’s stock valued at $4,106,000 after purchasing an additional 5,868 shares during the period.

First Trust Dorsey Wright Momentum & Dividend ETF Stock Performance

Shares of DDIV traded up $0.26 during mid-day trading on Monday, reaching $45.64. 1,286 shares of the company’s stock traded hands, compared to its average volume of 6,823. The business’s 50-day moving average price is $45.44 and its 200-day moving average price is $44.32. The stock has a market capitalization of $73.02 million, a P/E ratio of 17.21 and a beta of 0.93. First Trust Dorsey Wright Momentum & Dividend ETF has a 12 month low of $38.69 and a 12 month high of $47.84.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

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

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.