Kovack Advisors Inc. Grows Position in First Trust Enhanced Short Maturity ETF $FTSM

Kovack Advisors Inc. grew its stake in shares of First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) by 265.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,204 shares of the company’s stock after acquiring an additional 49,541 shares during the quarter. Kovack Advisors Inc.’s holdings in First Trust Enhanced Short Maturity ETF were worth $4,087,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FTSM. Northwestern Mutual Wealth Management Co. increased its position in First Trust Enhanced Short Maturity ETF by 1,953.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,784,922 shares of the company’s stock worth $226,830,000 after buying an additional 3,600,586 shares in the last quarter. GDS Wealth Management increased its position in First Trust Enhanced Short Maturity ETF by 105.2% during the fourth quarter. GDS Wealth Management now owns 859,078 shares of the company’s stock worth $51,485,000 after buying an additional 440,329 shares in the last quarter. Kaydan Wealth Management Inc. increased its position in First Trust Enhanced Short Maturity ETF by 651.8% during the fourth quarter. Kaydan Wealth Management Inc. now owns 415,493 shares of the company’s stock worth $24,900,000 after buying an additional 360,223 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in First Trust Enhanced Short Maturity ETF during the fourth quarter worth $15,607,000. Finally, Triad Wealth Partners LLC increased its position in First Trust Enhanced Short Maturity ETF by 674.4% during the fourth quarter. Triad Wealth Partners LLC now owns 291,939 shares of the company’s stock worth $17,496,000 after buying an additional 254,240 shares in the last quarter.

First Trust Enhanced Short Maturity ETF Price Performance

First Trust Enhanced Short Maturity ETF stock opened at $59.85 on Friday. The stock has a fifty day moving average of $59.87 and a two-hundred day moving average of $59.94. First Trust Enhanced Short Maturity ETF has a fifty-two week low of $59.74 and a fifty-two week high of $60.14.

First Trust Enhanced Short Maturity ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 29th were paid a $0.205 dividend. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 29th.

About First Trust Enhanced Short Maturity ETF

The First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund that is based on the Bloomberg U.S. Short Treasury Bond index. The fund is actively-managed to invest in a variety of fixed income securities with a target maturity of less than three years. FTSM was launched on Aug 5, 2014 and is managed by First Trust.