Short Interest in First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) Drops By 90.0%

First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 32,580 shares, a drop of 90.0% from the May 14th total of 325,251 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 692,240 shares, the short-interest ratio is presently 0.0 days.

First Trust Enhanced Short Maturity ETF Stock Performance

FTSM traded up $0.02 on Tuesday, hitting $59.81. 744,363 shares of the company were exchanged, compared to its average volume of 955,952. First Trust Enhanced Short Maturity ETF has a 12 month low of $59.74 and a 12 month high of $60.14. The stock’s fifty day moving average is $59.87 and its 200-day moving average is $59.94.

First Trust Enhanced Short Maturity ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 29th were issued a dividend of $0.205 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 29th.

Hedge Funds Weigh In On First Trust Enhanced Short Maturity ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FTSM. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Trust Enhanced Short Maturity ETF by 1,953.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,784,922 shares of the company’s stock valued at $226,830,000 after buying an additional 3,600,586 shares in the last quarter. BDFS Capital LLC bought a new position in shares of First Trust Enhanced Short Maturity ETF in the fourth quarter valued at $63,291,000. Wells Fargo & Company MN grew its stake in shares of First Trust Enhanced Short Maturity ETF by 11.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,654,489 shares of the company’s stock valued at $518,664,000 after buying an additional 876,866 shares in the last quarter. GDS Wealth Management grew its stake in shares of First Trust Enhanced Short Maturity ETF by 105.2% in the fourth quarter. GDS Wealth Management now owns 859,078 shares of the company’s stock valued at $51,485,000 after buying an additional 440,329 shares in the last quarter. Finally, Kaydan Wealth Management Inc. grew its stake in shares of First Trust Enhanced Short Maturity ETF by 651.8% in the fourth quarter. Kaydan Wealth Management Inc. now owns 415,493 shares of the company’s stock valued at $24,900,000 after buying an additional 360,223 shares in the last quarter.

First Trust Enhanced Short Maturity ETF Company Profile

The First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund that is based on the Bloomberg U.S. Short Treasury Bond index. The fund is actively-managed to invest in a variety of fixed income securities with a target maturity of less than three years. FTSM was launched on Aug 5, 2014 and is managed by First Trust.