First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sees Significant Drop in Short Interest

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 120,695 shares, a decline of 50.2% from the April 15th total of 242,161 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 758,800 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 0.0%

First Trust Morningstar Dividend Leaders Index Fund stock traded up $0.01 on Friday, hitting $49.68. The company’s stock had a trading volume of 415,911 shares, compared to its average volume of 1,148,662. The firm has a market cap of $7.29 billion, a P/E ratio of 13.96 and a beta of 0.59. The company has a fifty day moving average price of $49.92 and a 200-day moving average price of $47.32. First Trust Morningstar Dividend Leaders Index Fund has a one year low of $40.99 and a one year high of $51.46.

Institutional Investors Weigh In On First Trust Morningstar Dividend Leaders Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP increased its holdings in First Trust Morningstar Dividend Leaders Index Fund by 194.8% in the 1st quarter. Quantinno Capital Management LP now owns 25,367 shares of the exchange traded fund’s stock valued at $1,289,000 after buying an additional 16,762 shares during the period. Gateway Wealth Partners LLC boosted its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 113.6% in the 1st quarter. Gateway Wealth Partners LLC now owns 186,152 shares of the exchange traded fund’s stock valued at $9,457,000 after purchasing an additional 99,006 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 62.7% in the 1st quarter. Renaissance Technologies LLC now owns 63,300 shares of the exchange traded fund’s stock valued at $3,216,000 after purchasing an additional 24,400 shares in the last quarter. Compound Planning Inc. acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the 1st quarter valued at $282,000. Finally, Lido Advisors LLC acquired a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the 1st quarter valued at $205,000.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.