First Trust Low Duration Opportunities ETF (NASDAQ:LMBS) Sees Large Drop in Short Interest

First Trust Low Duration Opportunities ETF (NASDAQ:LMBS) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 44,900 shares, a decline of 58.1% from the February 28th total of 107,200 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 486,100 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Low Duration Opportunities ETF Stock Up 0.2 %

NASDAQ:LMBS traded up $0.12 during trading hours on Friday, reaching $49.15. 520,421 shares of the company’s stock were exchanged, compared to its average volume of 474,544. First Trust Low Duration Opportunities ETF has a 1-year low of $45.06 and a 1-year high of $51.49. The company has a 50-day moving average of $48.92 and a 200 day moving average of $48.91.

First Trust Low Duration Opportunities ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $2.04 annualized dividend and a dividend yield of 4.15%.

Hedge Funds Weigh In On First Trust Low Duration Opportunities ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. acquired a new stake in First Trust Low Duration Opportunities ETF during the 4th quarter worth approximately $47,000. Riggs Asset Managment Co. Inc. raised its stake in shares of First Trust Low Duration Opportunities ETF by 16.2% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 1,793 shares of the company’s stock worth $87,000 after purchasing an additional 250 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of First Trust Low Duration Opportunities ETF during the fourth quarter worth $116,000. Kestra Investment Management LLC purchased a new position in First Trust Low Duration Opportunities ETF in the 4th quarter valued at $127,000. Finally, Marshall Investment Management LLC acquired a new position in First Trust Low Duration Opportunities ETF in the 4th quarter valued at $131,000.

About First Trust Low Duration Opportunities ETF

The First Trust Low Duration Opportunities ETF (LMBS) is an exchange-traded fund that is based on the Bloomberg U.S. MBS index. The fund is an actively managed fund that invests in a variety of mortgage-backed securities with target duration of less than 3 years. LMBS was launched on Nov 4, 2014 and is managed by First Trust.