First Trust S&P 500 Diversified Free Cash Flow ETF (NYSEARCA:FCFY) Sees Large Decline in Short Interest

First Trust S&P 500 Diversified Free Cash Flow ETF (NYSEARCA:FCFY) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 582 shares, a decrease of 53.7% from the July 30th total of 1,256 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 330 shares, the days-to-cover ratio is presently 1.8 days.

First Trust S&P 500 Diversified Free Cash Flow ETF Price Performance

FCFY stock traded up $0.11 during mid-day trading on Friday, reaching $30.59. 301 shares of the company’s stock were exchanged, compared to its average volume of 447. First Trust S&P 500 Diversified Free Cash Flow ETF has a 12-month low of $24.92 and a 12-month high of $30.60. The stock’s 50 day moving average is $28.68 and its 200 day moving average is $27.37. The company has a market cap of $1.53 million, a price-to-earnings ratio of 14.24 and a beta of 0.95.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in First Trust S&P 500 Diversified Free Cash Flow ETF in the 4th quarter valued at $26,000. Triumph Capital Management acquired a new position in First Trust S&P 500 Diversified Free Cash Flow ETF during the third quarter worth $40,000. Finally, Citadel Advisors LLC raised its position in First Trust S&P 500 Diversified Free Cash Flow ETF by 18.2% during the third quarter. Citadel Advisors LLC now owns 25,525 shares of the company’s stock worth $686,000 after acquiring an additional 3,926 shares during the period.

About First Trust S&P 500 Diversified Free Cash Flow ETF

The First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) is an exchange-traded fund that is based on the S&P 500 Sector-Neutral FCF index. The fund tracks an index composed of the largest U.S. companies that are perceived to have strong free cash flow yields in comparison to other firms within the same GICS sector FCFY was launched on Aug 23, 2023 and is issued by First Trust.