Short Interest in First Trust Limited Duration Investment Grade Corporate ETF (NYSEARCA:FSIG) Drops By 71.5%

First Trust Limited Duration Investment Grade Corporate ETF (NYSEARCA:FSIG) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 55,373 shares, a decline of 71.5% from the February 26th total of 194,055 shares. Based on an average daily trading volume, of 341,505 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 341,505 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Limited Duration Investment Grade Corporate ETF Price Performance

Shares of NYSEARCA FSIG traded up $0.02 during trading hours on Wednesday, hitting $18.96. 253,045 shares of the stock were exchanged, compared to its average volume of 433,101. First Trust Limited Duration Investment Grade Corporate ETF has a one year low of $18.70 and a one year high of $19.33. The company’s 50 day moving average is $19.13 and its 200 day moving average is $19.19.

First Trust Limited Duration Investment Grade Corporate ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were issued a dividend of $0.0725 per share. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, February 20th.

Institutional Investors Weigh In On First Trust Limited Duration Investment Grade Corporate ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FSIG. Morgan Stanley lifted its position in shares of First Trust Limited Duration Investment Grade Corporate ETF by 4.2% during the 4th quarter. Morgan Stanley now owns 11,476,255 shares of the company’s stock worth $220,229,000 after purchasing an additional 463,049 shares during the last quarter. LPL Financial LLC increased its position in First Trust Limited Duration Investment Grade Corporate ETF by 8.8% in the 4th quarter. LPL Financial LLC now owns 7,681,212 shares of the company’s stock worth $147,402,000 after buying an additional 618,781 shares during the period. Wells Fargo & Company MN increased its position in First Trust Limited Duration Investment Grade Corporate ETF by 2.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,426,972 shares of the company’s stock worth $65,764,000 after buying an additional 70,888 shares during the period. First Trust Advisors LP lifted its holdings in shares of First Trust Limited Duration Investment Grade Corporate ETF by 10.5% during the fourth quarter. First Trust Advisors LP now owns 2,871,862 shares of the company’s stock worth $55,111,000 after buying an additional 273,032 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of First Trust Limited Duration Investment Grade Corporate ETF by 7.8% during the third quarter. Ameriprise Financial Inc. now owns 2,395,790 shares of the company’s stock worth $46,021,000 after buying an additional 172,385 shares during the last quarter.

About First Trust Limited Duration Investment Grade Corporate ETF

The First Trust Limited Duration Investment Grade Corporate ETF (FSIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund seeks to provide current income from an actively managed portfolio of short-term US investment-grade corporate bonds. FSIG was launched on Nov 17, 2021 and is managed by First Trust.