First Trust Senior Loan ETF (NASDAQ:FTSL) Sees Significant Drop in Short Interest

First Trust Senior Loan ETF (NASDAQ:FTSL) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 188,102 shares, a decline of 35.3% from the February 26th total of 290,658 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 375,897 shares, the short-interest ratio is presently 0.5 days.

First Trust Senior Loan ETF Stock Down 0.4%

Shares of NASDAQ FTSL opened at $44.51 on Friday. The stock’s fifty day simple moving average is $45.18 and its two-hundred day simple moving average is $45.65. First Trust Senior Loan ETF has a 12-month low of $44.30 and a 12-month high of $46.19.

First Trust Senior Loan ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 26th will be paid a dividend of $0.235 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Thursday, March 26th.

Hedge Funds Weigh In On First Trust Senior Loan ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in First Trust Senior Loan ETF in the third quarter worth about $26,000. Asset Dedication LLC bought a new stake in shares of First Trust Senior Loan ETF in the 2nd quarter valued at about $28,000. Smartleaf Asset Management LLC purchased a new position in shares of First Trust Senior Loan ETF in the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC bought a new position in shares of First Trust Senior Loan ETF during the 4th quarter worth approximately $48,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of First Trust Senior Loan ETF by 233.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,090 shares of the company’s stock worth $50,000 after acquiring an additional 763 shares in the last quarter.

First Trust Senior Loan ETF Company Profile

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.