Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Expands By 789.2%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 14,761 shares, an increase of 789.2% from the July 30th total of 1,660 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 28,991 shares, the short-interest ratio is presently 0.5 days.

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

Hedge funds have recently added to or reduced their stakes in the business. Caldwell Trust Co acquired a new position in shares of First Trust SSI Strategic Convertible Securities ETF in the 4th quarter valued at about $28,000. Rockefeller Capital Management L.P. grew its holdings in First Trust SSI Strategic Convertible Securities ETF by 97.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock worth $30,000 after acquiring an additional 340 shares during the period. Western Wealth Management LLC acquired a new stake in First Trust SSI Strategic Convertible Securities ETF during the first quarter worth about $35,000. Continuum Advisory LLC purchased a new position in First Trust SSI Strategic Convertible Securities ETF during the second quarter valued at approximately $38,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in First Trust SSI Strategic Convertible Securities ETF during the first quarter valued at approximately $52,000.

First Trust SSI Strategic Convertible Securities ETF Price Performance

Shares of FCVT stock traded up $0.48 during trading hours on Tuesday, reaching $49.85. 34,283 shares of the company’s stock were exchanged, compared to its average volume of 28,900. First Trust SSI Strategic Convertible Securities ETF has a 1 year low of $40.06 and a 1 year high of $54.90. The stock’s fifty day moving average price is $51.06 and its two-hundred day moving average price is $49.21.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 1.1%.

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.