First Trust SMID Capital Strength ETF (NASDAQ:FSCS) Sees Significant Decrease in Short Interest

First Trust SMID Capital Strength ETF (NASDAQ:FSCS) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 14,616 shares, a drop of 34.3% from the January 15th total of 22,244 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 7,960 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 7,960 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.9% of the company’s stock are short sold.

First Trust SMID Capital Strength ETF Stock Up 0.4%

Shares of FSCS traded up $0.14 on Friday, reaching $37.30. The stock had a trading volume of 10,585 shares, compared to its average volume of 10,176. First Trust SMID Capital Strength ETF has a twelve month low of $30.22 and a twelve month high of $37.77. The firm has a 50-day moving average of $36.64 and a 200 day moving average of $36.32. The firm has a market capitalization of $61.54 million, a PE ratio of 16.57 and a beta of 1.03.

First Trust SMID Capital Strength ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were given a dividend of $0.1035 per share. This is a positive change from First Trust SMID Capital Strength ETF’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, December 12th. This represents a $0.41 annualized dividend and a dividend yield of 1.1%.

Hedge Funds Weigh In On First Trust SMID Capital Strength ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC bought a new stake in First Trust SMID Capital Strength ETF in the third quarter valued at $30,000. International Assets Investment Management LLC increased its position in First Trust SMID Capital Strength ETF by 5.3% during the 4th quarter. International Assets Investment Management LLC now owns 6,390 shares of the company’s stock worth $229,000 after buying an additional 321 shares during the period. Equitable Holdings Inc. bought a new stake in First Trust SMID Capital Strength ETF during the third quarter worth $274,000. Envestnet Asset Management Inc. raised its holdings in First Trust SMID Capital Strength ETF by 7.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,257 shares of the company’s stock valued at $303,000 after buying an additional 550 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in First Trust SMID Capital Strength ETF during the fourth quarter valued at $369,000.

About First Trust SMID Capital Strength ETF

The First Trust SMID Capital Strength ETF (FSCS) is an exchange-traded fund that is based on the The SMID Capital Strength index. The fund tracks an equal-weighted index of 100 well-capitalized small- and mid-cap US companies perceived to hold strong market positions. FSCS was launched on Jun 20, 2017 and is issued by First Trust.