First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Short Interest Up 6,381.8% in March

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 2,139 shares, a growth of 6,381.8% from the March 15th total of 33 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,780 shares, the short-interest ratio is presently 0.1 days.

First Trust SSI Strategic Convertible Securities ETF Price Performance

Shares of NASDAQ FCVT traded down $0.09 during trading on Friday, hitting $47.08. The company had a trading volume of 3,837 shares, compared to its average volume of 32,790. First Trust SSI Strategic Convertible Securities ETF has a 52 week low of $33.19 and a 52 week high of $47.50. The business’s 50-day moving average is $45.42 and its 200 day moving average is $44.39.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, March 26th.

Institutional Investors Weigh In On First Trust SSI Strategic Convertible Securities ETF

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of First Trust SSI Strategic Convertible Securities ETF by 14.4% in the 1st quarter. Royal Bank of Canada now owns 70,695 shares of the company’s stock valued at $2,468,000 after purchasing an additional 8,908 shares during the period. Jane Street Group LLC increased its stake in First Trust SSI Strategic Convertible Securities ETF by 50.2% in the 1st quarter. Jane Street Group LLC now owns 17,876 shares of the company’s stock worth $624,000 after purchasing an additional 5,974 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in First Trust SSI Strategic Convertible Securities ETF by 23.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,963 shares of the company’s stock worth $503,000 after buying an additional 2,487 shares during the period. Milestones Private Investment Advisors LLC acquired a new stake in First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter worth about $1,246,000. Finally, Synergy Asset Management LLC purchased a new stake in First Trust SSI Strategic Convertible Securities ETF during the third quarter valued at about $488,000.

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.