First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sees Large Drop in Short Interest

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 120,695 shares, a drop of 50.2% from the April 15th total of 242,161 shares. Based on an average trading volume of 758,800 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

Shares of NYSEARCA:FDL traded up $0.01 during midday trading on Friday, hitting $49.68. 415,911 shares of the stock were exchanged, compared to its average volume of 1,148,662. First Trust Morningstar Dividend Leaders Index Fund has a 52-week low of $40.99 and a 52-week high of $51.46. The business’s fifty day simple moving average is $49.92 and its two-hundred day simple moving average is $47.34. The company has a market capitalization of $7.29 billion, a PE ratio of 13.96 and a beta of 0.59.

Institutional Trading of First Trust Morningstar Dividend Leaders Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kingsview Wealth Management LLC increased its position in First Trust Morningstar Dividend Leaders Index Fund by 10.2% during the third quarter. Kingsview Wealth Management LLC now owns 62,549 shares of the exchange traded fund’s stock worth $2,715,000 after buying an additional 5,767 shares during the last quarter. US Bancorp DE increased its position in First Trust Morningstar Dividend Leaders Index Fund by 13.1% during the third quarter. US Bancorp DE now owns 44,564 shares of the exchange traded fund’s stock worth $1,935,000 after buying an additional 5,155 shares during the last quarter. Arete Wealth Advisors LLC increased its position in First Trust Morningstar Dividend Leaders Index Fund by 3.1% during the third quarter. Arete Wealth Advisors LLC now owns 43,914 shares of the exchange traded fund’s stock worth $1,906,000 after buying an additional 1,325 shares during the last quarter. HighTower Advisors LLC increased its position in First Trust Morningstar Dividend Leaders Index Fund by 2.0% during the third quarter. HighTower Advisors LLC now owns 451,513 shares of the exchange traded fund’s stock worth $19,600,000 after buying an additional 8,677 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in First Trust Morningstar Dividend Leaders Index Fund by 5.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,333,848 shares of the exchange traded fund’s stock worth $57,902,000 after buying an additional 70,037 shares during the last quarter.

First Trust Morningstar Dividend Leaders Index Fund Company Profile

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.