Short Interest in First Trust Dividend Strength ETF (NASDAQ:FTDS) Drops By 14.9%

First Trust Dividend Strength ETF (NASDAQ:FTDS) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 4,000 shares, a decrease of 14.9% from the February 13th total of 4,700 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 2,100 shares, the days-to-cover ratio is presently 1.9 days.

First Trust Dividend Strength ETF Stock Performance

Shares of First Trust Dividend Strength ETF stock opened at $51.07 on Thursday. The firm has a fifty day moving average of $51.69 and a two-hundred day moving average of $52.12. The stock has a market capitalization of $25.53 million, a price-to-earnings ratio of 13.31 and a beta of 1.12. First Trust Dividend Strength ETF has a 52 week low of $47.57 and a 52 week high of $55.33.

Institutional Trading of First Trust Dividend Strength ETF

Several institutional investors and hedge funds have recently made changes to their positions in FTDS. LPL Financial LLC raised its position in shares of First Trust Dividend Strength ETF by 3.1% during the 4th quarter. LPL Financial LLC now owns 136,421 shares of the company’s stock valued at $6,896,000 after acquiring an additional 4,164 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of First Trust Dividend Strength ETF by 10.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,471 shares of the company’s stock valued at $630,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Truist Financial Corp increased its position in shares of First Trust Dividend Strength ETF by 27.7% in the 4th quarter. Truist Financial Corp now owns 5,626 shares of the company’s stock valued at $284,000 after buying an additional 1,221 shares in the last quarter.

About First Trust Dividend Strength ETF

The First Trust Dividend Strength ETF (FTDS) is an exchange-traded fund that is based on the The Dividend Strength index. The fund tracks an index of approximately 50 US stocks or REITs considered to be well-capitalized and have a history of increasing their dividends. Holdings are selected based on fundamental criteria and equally-weighted within the portfolio.