Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Expands By 789.2%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 14,761 shares, an increase of 789.2% from the July 30th total of 1,660 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 28,991 shares, the short-interest ratio is currently 0.5 days.

First Trust SSI Strategic Convertible Securities ETF Stock Performance

First Trust SSI Strategic Convertible Securities ETF stock traded up $0.08 during trading on Wednesday, hitting $49.93. The company’s stock had a trading volume of 9,242 shares, compared to its average volume of 28,779. The stock’s fifty day moving average is $51.06 and its 200 day moving average is $49.21. First Trust SSI Strategic Convertible Securities ETF has a 1-year low of $40.06 and a 1-year high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be issued a $0.045 dividend. The ex-dividend date is Friday, August 21st. This represents a c) annualized dividend and a yield of 1.1%.

Institutional Trading of First Trust SSI Strategic Convertible Securities ETF

A number of institutional investors have recently added to or reduced their stakes in FCVT. Caldwell Trust Co purchased a new stake in First Trust SSI Strategic Convertible Securities ETF during the 4th quarter worth $28,000. Rockefeller Capital Management L.P. grew its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 97.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock valued at $30,000 after acquiring an additional 340 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the first quarter worth about $35,000. Continuum Advisory LLC acquired a new position in shares of First Trust SSI Strategic Convertible Securities ETF in the second quarter worth about $38,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of First Trust SSI Strategic Convertible Securities ETF in the first quarter worth about $52,000.

First Trust SSI Strategic Convertible Securities ETF Company Profile

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.