First Trust High Income Strategic Focus ETF (NASDAQ:HISF) Sees Significant Drop in Short Interest

First Trust High Income Strategic Focus ETF (NASDAQ:HISF) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 6,386 shares, a decline of 63.0% from the May 31st total of 17,264 shares. Based on an average trading volume of 7,858 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.3% of the shares of the company are short sold.

First Trust High Income Strategic Focus ETF Stock Performance

NASDAQ:HISF opened at $44.42 on Friday. The stock has a market cap of $91.06 million, a price-to-earnings ratio of 0.06 and a beta of 0.27. First Trust High Income Strategic Focus ETF has a 1 year low of $43.89 and a 1 year high of $45.61. The business has a fifty day moving average of $44.43 and a 200-day moving average of $44.82.

First Trust High Income Strategic Focus ETF Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 25th will be given a $0.186 dividend. The ex-dividend date is Thursday, June 25th.

Institutional Trading of First Trust High Income Strategic Focus ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its holdings in First Trust High Income Strategic Focus ETF by 59.2% during the first quarter. Geneos Wealth Management Inc. now owns 701,803 shares of the company’s stock worth $31,118,000 after purchasing an additional 261,046 shares in the last quarter. LPL Financial LLC increased its position in shares of First Trust High Income Strategic Focus ETF by 30.6% during the 4th quarter. LPL Financial LLC now owns 209,368 shares of the company’s stock valued at $9,473,000 after purchasing an additional 49,082 shares during the period. Commonwealth Equity Services LLC increased its position in shares of First Trust High Income Strategic Focus ETF by 38.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 129,548 shares of the company’s stock valued at $5,861,000 after purchasing an additional 35,807 shares during the period. tru Independence LLC raised its stake in shares of First Trust High Income Strategic Focus ETF by 9.1% in the 4th quarter. tru Independence LLC now owns 65,472 shares of the company’s stock worth $2,962,000 after buying an additional 5,449 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of First Trust High Income Strategic Focus ETF by 72.1% in the 1st quarter. Royal Bank of Canada now owns 63,120 shares of the company’s stock worth $2,799,000 after buying an additional 26,452 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

About First Trust High Income Strategic Focus ETF

The First Trust High Income Strategic Focus ETF (HISF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund uses a fund-of-funds structure to primarily seek income across a broad range of fixed income securities of US and non-US issuers. HISF was launched on Aug 13, 2014 and is managed by First Trust.