First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Sees Large Decrease in Short Interest

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 67,727 shares, a decrease of 39.6% from the February 26th total of 112,090 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 905,054 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Value Line Dividend Index Fund Stock Down 0.1%

FVD traded down $0.03 during trading on Friday, hitting $46.65. 430,085 shares of the stock were exchanged, compared to its average volume of 1,082,327. First Trust Value Line Dividend Index Fund has a 1-year low of $40.06 and a 1-year high of $50.23. The stock has a fifty day moving average price of $48.40 and a two-hundred day moving average price of $46.85. The firm has a market capitalization of $8.27 billion, a P/E ratio of 18.85 and a beta of 0.73.

First Trust Value Line Dividend Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be issued a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, March 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Key Client Fiduciary Advisors LLC raised its stake in First Trust Value Line Dividend Index Fund by 7.3% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 39,690 shares of the company’s stock valued at $1,835,000 after acquiring an additional 2,700 shares during the last quarter. Fairvoy Private Wealth LLC increased its holdings in shares of First Trust Value Line Dividend Index Fund by 35.4% in the third quarter. Fairvoy Private Wealth LLC now owns 238,584 shares of the company’s stock valued at $11,032,000 after purchasing an additional 62,419 shares during the period. ST Germain D J Co. Inc. acquired a new position in shares of First Trust Value Line Dividend Index Fund in the third quarter valued at approximately $58,000. Beacon Financial Group raised its stake in shares of First Trust Value Line Dividend Index Fund by 0.3% during the third quarter. Beacon Financial Group now owns 415,957 shares of the company’s stock worth $19,234,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of First Trust Value Line Dividend Index Fund during the second quarter worth $59,000.

About First Trust Value Line Dividend Index Fund

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.