First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Stock Short Interest Climbs 144.9%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 15,223 shares, an increase of 144.9% from the October 15th total of 6,217 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 8,684 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On First Trust SSI Strategic Convertible Securities ETF

Institutional investors have recently bought and sold shares of the stock. City Center Advisors LLC boosted its position in First Trust SSI Strategic Convertible Securities ETF by 8.4% during the third quarter. City Center Advisors LLC now owns 4,328 shares of the company’s stock worth $212,000 after purchasing an additional 336 shares during the period. Milestones Private Investment Advisors LLC grew its holdings in First Trust SSI Strategic Convertible Securities ETF by 1.5% during the third quarter. Milestones Private Investment Advisors LLC now owns 27,567 shares of the company’s stock valued at $1,351,000 after purchasing an additional 403 shares during the last quarter. Continuum Advisory LLC acquired a new position in First Trust SSI Strategic Convertible Securities ETF during the second quarter valued at approximately $38,000. Western Wealth Management LLC bought a new position in shares of First Trust SSI Strategic Convertible Securities ETF in the first quarter valued at approximately $35,000. Finally, Hershey Financial Advisers LLC raised its position in shares of First Trust SSI Strategic Convertible Securities ETF by 3.6% in the first quarter. Hershey Financial Advisers LLC now owns 24,336 shares of the company’s stock valued at $1,075,000 after purchasing an additional 846 shares during the period.

First Trust SSI Strategic Convertible Securities ETF Trading Down 1.3%

NASDAQ:FCVT traded down $0.56 during mid-day trading on Friday, reaching $43.03. The stock had a trading volume of 16,600 shares, compared to its average volume of 27,851. The business’s 50 day moving average is $47.25 and its 200 day moving average is $48.60. First Trust SSI Strategic Convertible Securities ETF has a fifty-two week low of $41.00 and a fifty-two week high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were given a dividend of $0.0450 per share. This represents a $0.54 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 21st.

About First Trust SSI Strategic Convertible Securities ETF

The First Trust SSI Strategic Convertible Securities ETF (FCVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund of convertible securities from within and outside the US. FCVT was launched on Nov 4, 2015 and is managed by First Trust.