First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Sees Large Growth in Short Interest

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 37,522 shares, a growth of 329.6% from the June 15th total of 8,735 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily volume of 9,302 shares, the short-interest ratio is currently 4.0 days.

Hedge Funds Weigh In On First Trust Dorsey Wright Momentum & Low Volatility ETF

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF in the 3rd quarter worth approximately $39,000. O Shaughnessy Asset Management LLC bought a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the fourth quarter worth $111,000. Envestnet Asset Management Inc. bought a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the third quarter worth $201,000. Fifth Third Bancorp purchased a new stake in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the first quarter worth $342,000. Finally, Concurrent Investment Advisors LLC boosted its stake in First Trust Dorsey Wright Momentum & Low Volatility ETF by 45.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 10,985 shares of the company’s stock valued at $385,000 after buying an additional 3,434 shares during the period.

First Trust Dorsey Wright Momentum & Low Volatility ETF Stock Performance

NASDAQ DVOL traded up $0.15 during trading hours on Friday, hitting $37.12. The company had a trading volume of 4,255 shares, compared to its average volume of 10,453. First Trust Dorsey Wright Momentum & Low Volatility ETF has a 52 week low of $33.60 and a 52 week high of $37.50. The firm has a 50 day simple moving average of $36.45 and a 200 day simple moving average of $36.06. The firm has a market capitalization of $72.38 million, a price-to-earnings ratio of 24.91 and a beta of 0.75.

First Trust Dorsey Wright Momentum & Low Volatility ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.0989 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from First Trust Dorsey Wright Momentum & Low Volatility ETF’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, June 25th.

First Trust Dorsey Wright Momentum & Low Volatility ETF Company Profile

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.