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) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 201 shares, a drop of 97.6% from the September 15th total of 8,510 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 3,117 shares, the days-to-cover ratio is presently 0.1 days.

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

FCFY stock traded down $0.13 during midday trading on Friday, hitting $29.42. 128 shares of the company’s stock were exchanged, compared to its average volume of 721. The stock’s fifty day moving average price is $29.92 and its 200-day moving average price is $28.10. The company has a market cap of $1.47 million, a PE ratio of 14.24 and a beta of 0.98. First Trust S&P 500 Diversified Free Cash Flow ETF has a one year low of $24.92 and a one year high of $31.01.

Hedge Funds Weigh In On First Trust S&P 500 Diversified Free Cash Flow ETF

A hedge fund recently raised its position in First Trust S&P 500 Diversified Free Cash Flow ETF stock. Citadel Advisors LLC increased its holdings in shares of First Trust S&P 500 Diversified Free Cash Flow ETF (NYSEARCA:FCFY) by 17.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,304 shares of the company’s stock after purchasing an additional 3,081 shares during the quarter. Citadel Advisors LLC owned 40.61% of First Trust S&P 500 Diversified Free Cash Flow ETF worth $548,000 as of its most recent filing with the SEC.

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.