First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Stock Short Interest Jumps 144.9%

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 15,223 shares, a growth of 144.9% from the October 15th total of 6,217 shares. Based on an average daily trading volume, of 8,684 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Investors Weigh In On First Trust SSI Strategic Convertible Securities ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its stake in shares of 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 period. Integrity Alliance LLC. acquired a new position in shares of First Trust SSI Strategic Convertible Securities ETF during the 3rd quarter worth about $299,000. Bank of America Corp DE boosted its stake in First Trust SSI Strategic Convertible Securities ETF by 14.4% during the 1st quarter. Bank of America Corp DE now owns 46,152 shares of the company’s stock valued at $2,039,000 after purchasing an additional 5,805 shares during the period. Csenge Advisory Group bought a new stake in First Trust SSI Strategic Convertible Securities ETF during the 3rd quarter valued at approximately $234,000. Finally, City Center Advisors LLC bought a new stake in First Trust SSI Strategic Convertible Securities ETF during the 2nd quarter valued at approximately $215,000.

First Trust SSI Strategic Convertible Securities ETF Stock Performance

FCVT traded down $0.56 during trading on Friday, hitting $43.03. The stock had a trading volume of 16,600 shares, compared to its average volume of 27,851. First Trust SSI Strategic Convertible Securities ETF has a 12 month low of $41.00 and a 12 month high of $54.90. The company has a 50 day simple moving average of $47.25 and a 200-day simple moving average of $48.60.

First Trust SSI Strategic Convertible Securities ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were issued a dividend of $0.0450 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, October 21st.

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.