First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Sees Significant Drop in Short Interest

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 546 shares, a drop of 69.6% from the April 30th total of 1,797 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 9,538 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of First Trust Dorsey Wright Momentum & Low Volatility ETF

Several hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 12.0% in the 1st quarter. Cetera Investment Advisers now owns 19,851 shares of the company’s stock valued at $686,000 after purchasing an additional 2,125 shares during the last quarter. Balefire LLC lifted its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 48.6% in the 1st quarter. Balefire LLC now owns 33,142 shares of the company’s stock valued at $1,146,000 after purchasing an additional 10,840 shares during the last quarter. Fifth Third Bancorp bought a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF in the 1st quarter valued at about $342,000. Royal Bank of Canada lifted its position in First Trust Dorsey Wright Momentum & Low Volatility ETF by 358,931.6% in the 4th quarter. Royal Bank of Canada now owns 68,216 shares of the company’s stock valued at $2,390,000 after purchasing an additional 68,197 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF in the 4th quarter valued at about $111,000.

First Trust Dorsey Wright Momentum & Low Volatility ETF Stock Down 0.6%

Shares of NASDAQ:DVOL opened at $36.05 on Friday. The company has a market cap of $72.10 million, a PE ratio of 24.91 and a beta of 0.78. The company’s 50-day moving average price is $35.91 and its 200 day moving average price is $35.73. First Trust Dorsey Wright Momentum & Low Volatility ETF has a fifty-two week low of $33.60 and a fifty-two week high of $37.50.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a $0.0292 dividend. The ex-dividend date was Thursday, March 26th. This represents a $0.12 annualized dividend and a yield of 0.3%.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.