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

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 19,100 shares, a drop of 6.4% from the October 31st total of 20,400 shares. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is presently 1.4 days.

First Trust Dorsey Wright Momentum & Dividend ETF Price Performance

DDIV stock traded down $0.17 during trading on Tuesday, reaching $40.10. 6,507 shares of the company were exchanged, compared to its average volume of 10,164. The company has a 50-day moving average of $38.37 and a two-hundred day moving average of $35.82. The company has a market capitalization of $70.18 million, a price-to-earnings ratio of 13.54 and a beta of 0.99. First Trust Dorsey Wright Momentum & Dividend ETF has a twelve month low of $28.86 and a twelve month high of $41.08.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were given a $0.1823 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.82%.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the first quarter valued at approximately $205,000. Atomi Financial Group Inc. acquired a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the 3rd quarter valued at $516,000. Finally, Private Advisory Group LLC bought a new position in First Trust Dorsey Wright Momentum & Dividend ETF during the third quarter worth $3,003,000.

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.