First Trust Senior Loan ETF (NASDAQ:FTSL) Sees Strong Trading Volume – What’s Next?

Shares of First Trust Senior Loan ETF (NASDAQ:FTSL) saw unusually-strong trading volume on Tuesday . 1,434,805 shares traded hands during mid-day trading, an increase of 408% from the previous session’s volume of 282,526 shares.The stock last traded at $44.89 and had previously closed at $44.91.

First Trust Senior Loan ETF Stock Performance

The firm has a 50-day moving average price of $44.85 and a 200-day moving average price of $44.94.

First Trust Senior Loan ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a dividend of $0.225 per share. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, August 21st.

Institutional Trading of First Trust Senior Loan ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in shares of First Trust Senior Loan ETF during the 3rd quarter valued at approximately $26,000. Continuum Advisory LLC bought a new stake in shares of First Trust Senior Loan ETF in the 2nd quarter worth approximately $28,000. Raleigh Capital Management Inc. purchased a new position in First Trust Senior Loan ETF in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC purchased a new position in First Trust Senior Loan ETF in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC grew its holdings in First Trust Senior Loan ETF by 140.3% during the first quarter. Sound Income Strategies LLC now owns 1,026 shares of the company’s stock valued at $46,000 after purchasing an additional 599 shares during the period.

About First Trust Senior Loan ETF

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.