Short Interest in First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Decreases By 64.5%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,411 shares, a decline of 64.5% from the May 31st total of 6,796 shares. Based on an average daily volume of 19,241 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

First Trust SSI Strategic Convertible Securities ETF Price Performance

FCVT opened at $52.30 on Friday. The business has a 50 day moving average of $51.70 and a 200-day moving average of $47.43. First Trust SSI Strategic Convertible Securities ETF has a 1-year low of $38.18 and a 1-year high of $54.90.

First Trust SSI Strategic Convertible Securities ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be paid a $0.045 dividend. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, June 25th.

Hedge Funds Weigh In On First Trust SSI Strategic Convertible Securities ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caldwell Trust Co bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF during the fourth quarter worth $28,000. Rockefeller Capital Management L.P. increased its stake in shares of First Trust SSI Strategic Convertible Securities ETF by 97.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 689 shares of the company’s stock valued at $30,000 after buying an additional 340 shares during the period. Western Wealth Management LLC bought a new position in First Trust SSI Strategic Convertible Securities ETF in the first quarter valued at about $35,000. Merkkuri Wealth Advisors LLC bought a new position in First Trust SSI Strategic Convertible Securities ETF in the first quarter valued at about $52,000. Finally, Advisory Services Network LLC acquired a new stake in First Trust SSI Strategic Convertible Securities ETF in the third quarter worth about $78,000.

First Trust SSI Strategic Convertible Securities ETF Company Profile

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.