First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) Short Interest Up 3,838.9% in October

First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 70,900 shares, an increase of 3,838.9% from the September 30th total of 1,800 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is currently ∞ days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCVT. CWM LLC increased its position in shares of First Trust SSI Strategic Convertible Securities ETF by 9,702.8% in the 2nd quarter. CWM LLC now owns 827,554 shares of the company’s stock valued at $29,369,000 after buying an additional 819,112 shares in the last quarter. Jane Street Group LLC increased its position in shares of First Trust SSI Strategic Convertible Securities ETF by 114.1% in the 2nd quarter. Jane Street Group LLC now owns 258,933 shares of the company’s stock valued at $9,189,000 after buying an additional 138,003 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of First Trust SSI Strategic Convertible Securities ETF in the 1st quarter valued at $3,341,000. Morgan Stanley increased its holdings in First Trust SSI Strategic Convertible Securities ETF by 63.6% during the 1st quarter. Morgan Stanley now owns 241,174 shares of the company’s stock worth $6,894,000 after purchasing an additional 93,726 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in First Trust SSI Strategic Convertible Securities ETF by 16.1% during the 2nd quarter. Bank of America Corp DE now owns 305,433 shares of the company’s stock worth $10,840,000 after purchasing an additional 42,432 shares in the last quarter.

FCVT opened at $40.84 on Thursday. First Trust SSI Strategic Convertible Securities ETF has a 12 month low of $24.20 and a 12 month high of $43.49. The company has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $36.94.

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 22nd will be given a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, October 21st.

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