First Trust Managed Futures Strategy Fund (NYSEARCA:FMF) Sees Large Drop in Short Interest

First Trust Managed Futures Strategy Fund (NYSEARCA:FMF) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 15,798 shares, a drop of 68.1% from the September 30th total of 49,492 shares. Based on an average daily volume of 34,845 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the company are sold short.

First Trust Managed Futures Strategy Fund Stock Down 0.6%

Shares of NYSEARCA FMF traded down $0.29 during trading on Thursday, hitting $52.12. The company had a trading volume of 17,851 shares, compared to its average volume of 36,828. The stock has a 50 day simple moving average of $51.79 and a 200 day simple moving average of $50.74. First Trust Managed Futures Strategy Fund has a 12 month low of $46.42 and a 12 month high of $54.15.

Institutional Investors Weigh In On First Trust Managed Futures Strategy Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in First Trust Managed Futures Strategy Fund during the 3rd quarter worth approximately $209,000. Simplicity Wealth LLC boosted its position in shares of First Trust Managed Futures Strategy Fund by 85.2% in the third quarter. Simplicity Wealth LLC now owns 95,968 shares of the company’s stock worth $5,015,000 after purchasing an additional 44,157 shares during the period. Center For Asset Management LLC boosted its position in shares of First Trust Managed Futures Strategy Fund by 3.9% in the third quarter. Center For Asset Management LLC now owns 79,973 shares of the company’s stock worth $4,179,000 after purchasing an additional 3,019 shares during the period. Signal Advisors Wealth LLC boosted its position in shares of First Trust Managed Futures Strategy Fund by 32.7% in the third quarter. Signal Advisors Wealth LLC now owns 6,272 shares of the company’s stock worth $328,000 after purchasing an additional 1,544 shares during the period. Finally, Fermata Advisors LLC increased its stake in shares of First Trust Managed Futures Strategy Fund by 4.8% in the third quarter. Fermata Advisors LLC now owns 21,072 shares of the company’s stock worth $1,101,000 after purchasing an additional 971 shares in the last quarter.

About First Trust Managed Futures Strategy Fund

The First Trust Managed Futures Strategy Fund (FMF) is an exchange-traded fund that is based on the Morningstar Diversified Futures index. The fund seeks positive returns uncorrelated with major asset classes. The actively managed fund uses futures in commodity (50%), currency (25%) and equity (25%) indexes. FMF was launched on Aug 1, 2013 and is managed by First Trust.