Short Interest in First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) Expands By 2,480.0%

First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 25,800 shares, a growth of 2,480.0% from the March 15th total of 1,000 shares. Based on an average daily volume of 21,600 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.3% of the company’s shares are short sold.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Dividend ETF

Several hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of First Trust Dorsey Wright Momentum & Dividend ETF in the fourth quarter valued at approximately $203,000. J.W. Cole Advisors Inc. acquired a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter worth about $203,000. Sigma Planning Corp bought a new position in First Trust Dorsey Wright Momentum & Dividend ETF in the 4th quarter valued at approximately $224,000. Raymond James Financial Inc. acquired a new position in shares of First Trust Dorsey Wright Momentum & Dividend ETF during the fourth quarter worth $719,000. Finally, Independent Advisor Alliance bought a new stake in First Trust Dorsey Wright Momentum & Dividend ETF in the fourth quarter valued at approximately $3,744,000.

First Trust Dorsey Wright Momentum & Dividend ETF Stock Performance

Shares of DDIV stock opened at $35.29 on Wednesday. The company has a market capitalization of $68.82 million, a P/E ratio of 17.47 and a beta of 0.99. First Trust Dorsey Wright Momentum & Dividend ETF has a 52 week low of $32.02 and a 52 week high of $41.08. The company’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $38.33.

First Trust Dorsey Wright Momentum & Dividend ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a $0.1822 dividend. The ex-dividend date was Thursday, March 27th. This represents a $0.73 dividend on an annualized basis and a yield of 2.07%.

About First Trust Dorsey Wright Momentum & Dividend ETF

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.