Short Interest in First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Grows By 30.3%

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 499,726 shares, a growth of 30.3% from the February 26th total of 383,551 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,568,099 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FDL. Basepoint Wealth LLC lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 1.2% during the fourth quarter. Basepoint Wealth LLC now owns 17,765 shares of the exchange traded fund’s stock valued at $788,000 after purchasing an additional 215 shares during the last quarter. FSB Premier Wealth Management Inc. raised its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 0.7% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 33,758 shares of the exchange traded fund’s stock valued at $1,497,000 after buying an additional 223 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.5% during the 2nd quarter. Tyler Stone Wealth Management now owns 9,995 shares of the exchange traded fund’s stock valued at $419,000 after buying an additional 240 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 1.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 19,485 shares of the exchange traded fund’s stock worth $864,000 after acquiring an additional 260 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of First Trust Morningstar Dividend Leaders Index Fund by 0.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,978 shares of the exchange traded fund’s stock worth $1,301,000 after acquiring an additional 266 shares during the last quarter.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

First Trust Morningstar Dividend Leaders Index Fund stock traded up $0.04 during midday trading on Friday, hitting $50.36. 1,117,680 shares of the company’s stock were exchanged, compared to its average volume of 1,253,322. The company has a market cap of $6.99 billion, a P/E ratio of 13.96 and a beta of 0.73. The stock has a 50-day moving average price of $49.54 and a two-hundred day moving average price of $45.82. First Trust Morningstar Dividend Leaders Index Fund has a 52-week low of $37.29 and a 52-week high of $51.46.

First Trust Morningstar Dividend Leaders Index Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.4005 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.60 annualized dividend and a dividend yield of 3.2%.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.