First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Sees Significant Drop in Short Interest

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 188,399 shares, a decrease of 46.3% from the August 31st total of 350,726 shares. Based on an average trading volume of 579,320 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are short sold.

First Trust Global Tactical Commodity Strategy Fund Price Performance

Shares of First Trust Global Tactical Commodity Strategy Fund stock traded up $0.12 during trading on Wednesday, hitting $30.59. The stock had a trading volume of 521,105 shares, compared to its average volume of 712,070. First Trust Global Tactical Commodity Strategy Fund has a 12 month low of $22.70 and a 12 month high of $31.71. The firm’s fifty day simple moving average is $30.29 and its 200-day simple moving average is $29.20.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be given a $0.1317 dividend. This is a decrease from First Trust Global Tactical Commodity Strategy Fund’s previous quarterly dividend of $0.1691. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $0.53 dividend on an annualized basis and a yield of 1.7%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FTGC. Advisors Preferred LLC bought a new position in shares of First Trust Global Tactical Commodity Strategy Fund during the first quarter valued at approximately $73,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of First Trust Global Tactical Commodity Strategy Fund in the first quarter worth approximately $101,000. Wealth Effects LLC bought a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the 1st quarter worth approximately $214,000. Signal Advisors Wealth LLC bought a new stake in shares of First Trust Global Tactical Commodity Strategy Fund during the 1st quarter worth approximately $220,000. Finally, First United Bank & Trust boosted its holdings in First Trust Global Tactical Commodity Strategy Fund by 123.6% during the 1st quarter. First United Bank & Trust now owns 7,825 shares of the company’s stock valued at $225,000 after acquiring an additional 4,325 shares during the period.

First Trust Global Tactical Commodity Strategy Fund Company Profile

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.