First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Sees Significant Increase in Short Interest

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 989 shares, an increase of 74.1% from the September 15th total of 568 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 21,220 shares, the short-interest ratio is presently 0.0 days.

First Trust SSI Strategic Convertible Securities ETF Price Performance

Shares of NASDAQ:FCVT traded down $1.00 during mid-day trading on Friday, reaching $45.20. The stock had a trading volume of 4,949 shares, compared to its average volume of 29,262. The business’s 50 day moving average price is $49.35 and its 200 day moving average price is $50.12. First Trust SSI Strategic Convertible Securities ETF has a 1 year low of $41.00 and a 1 year high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.0450 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its position in First Trust SSI Strategic Convertible Securities ETF by 64.4% in the second quarter. Concurrent Investment Advisors LLC now owns 283,615 shares of the company’s stock worth $15,251,000 after purchasing an additional 111,050 shares during the last quarter. Bank of America Corp DE grew its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 14.4% in the 1st quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock worth $2,039,000 after buying an additional 5,805 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 32,850 shares of the company’s stock worth $1,451,000 after buying an additional 931 shares in the last quarter. Milestones Private Investment Advisors LLC increased its holdings in shares of First Trust SSI Strategic Convertible Securities ETF by 13.4% in the 1st quarter. Milestones Private Investment Advisors LLC now owns 27,583 shares of the company’s stock worth $1,219,000 after buying an additional 3,255 shares during the last quarter. Finally, Hershey Financial Advisers LLC increased its holdings in shares of First Trust SSI Strategic Convertible Securities ETF by 3.6% in the 1st quarter. Hershey Financial Advisers LLC now owns 24,336 shares of the company’s stock worth $1,075,000 after buying an additional 846 shares during the last quarter.

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.