Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Increases By 109.5%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 5,051 shares, an increase of 109.5% from the June 15th total of 2,411 shares. Based on an average trading volume of 17,832 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Caldwell Trust Co acquired a new stake in First Trust SSI Strategic Convertible Securities ETF during the 4th quarter worth approximately $28,000. Rockefeller Capital Management L.P. increased its holdings in First Trust SSI Strategic Convertible Securities ETF by 97.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares during the period. Western Wealth Management LLC bought a new position in First Trust SSI Strategic Convertible Securities ETF during the 1st quarter worth $35,000. Merkkuri Wealth Advisors LLC acquired a new position in First Trust SSI Strategic Convertible Securities ETF during the 1st quarter worth about $52,000. Finally, Advisory Services Network LLC bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF in the 3rd quarter valued at about $78,000.

First Trust SSI Strategic Convertible Securities ETF Price Performance

FCVT traded down $0.43 on Wednesday, reaching $50.61. The stock had a trading volume of 4,887 shares, compared to its average volume of 26,089. First Trust SSI Strategic Convertible Securities ETF has a fifty-two week low of $38.97 and a fifty-two week high of $54.90. The firm has a 50-day moving average of $52.36 and a 200-day moving average of $48.16.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, June 25th.

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.