First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Sees Significant Drop in Short Interest

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,000 shares, a decrease of 87.7% from the February 28th total of 8,100 shares. Based on an average daily volume of 19,800 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

First Trust Dorsey Wright Momentum & Dividend ETF Stock Down 0.9 %

NASDAQ:DDIV traded down $0.36 during trading hours on Thursday, hitting $38.16. 6,544 shares of the company’s stock traded hands, compared to its average volume of 13,948. First Trust Dorsey Wright Momentum & Dividend ETF has a 52 week low of $32.02 and a 52 week high of $41.08. The business’s fifty day simple moving average is $38.97 and its two-hundred day simple moving average is $38.42. The firm has a market cap of $76.32 million, a P/E ratio of 19.47 and a beta of 0.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 7.9% during the 4th quarter. Cetera Investment Advisers now owns 8,235 shares of the company’s stock worth $311,000 after acquiring an additional 602 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF by 61.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,834 shares of the company’s stock valued at $69,000 after acquiring an additional 699 shares during the last quarter. LPL Financial LLC boosted its holdings in First Trust Dorsey Wright Momentum & Dividend ETF by 1.6% during the 4th quarter. LPL Financial LLC now owns 155,968 shares of the company’s stock valued at $5,891,000 after acquiring an additional 2,508 shares during the period. Janney Montgomery Scott LLC bought a new position in First Trust Dorsey Wright Momentum & Dividend ETF during the 4th quarter worth approximately $203,000. Finally, J.W. Cole Advisors Inc. purchased a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter worth approximately $203,000.

First Trust Dorsey Wright Momentum & Dividend ETF Company Profile

The First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of 50 large- and mid-cap, high-yield stocks exhibiting relative strength. Holdings are weighted by dividend yield. DDIV was launched on Mar 10, 2014 and is managed by First Trust.