First Trust Bloomberg Shareholder Yield ETF (NASDAQ:SHRY) Trading Down 2% – Time to Sell?

First Trust Bloomberg Shareholder Yield ETF (NASDAQ:SHRY) shares traded down 2% during trading on Wednesday . The company traded as low as $42.49 and last traded at $42.55. 282 shares changed hands during trading, a decline of 59% from the average session volume of 686 shares. The stock had previously closed at $43.42.

First Trust Bloomberg Shareholder Yield ETF Stock Down 2.0%

The firm has a market cap of $17.02 million, a P/E ratio of 16.89 and a beta of 0.87. The stock’s 50-day simple moving average is $43.88 and its 200 day simple moving average is $43.45.

First Trust Bloomberg Shareholder Yield ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.1163 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.47 dividend on an annualized basis and a yield of 1.1%.

Hedge Funds Weigh In On First Trust Bloomberg Shareholder Yield ETF

A number of institutional investors and hedge funds have recently made changes to their positions in SHRY. Raymond James Financial Inc. bought a new position in shares of First Trust Bloomberg Shareholder Yield ETF during the 2nd quarter worth about $47,000. Geneos Wealth Management Inc. boosted its position in shares of First Trust Bloomberg Shareholder Yield ETF by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,400 shares of the company’s stock worth $59,000 after purchasing an additional 700 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of First Trust Bloomberg Shareholder Yield ETF during the 4th quarter worth about $96,000. RFG Advisory LLC bought a new position in shares of First Trust Bloomberg Shareholder Yield ETF during the 1st quarter worth about $350,000. Finally, Silver Oak Securities Incorporated boosted its position in shares of First Trust Bloomberg Shareholder Yield ETF by 14.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 9,180 shares of the company’s stock worth $387,000 after purchasing an additional 1,182 shares in the last quarter.

About First Trust Bloomberg Shareholder Yield ETF

The First Trust Bloomberg Shareholder Yield ETF (SHRY) is an exchange-traded fund that is based on the Bloomberg Shareholder Yield index. The fund offers passive management by tracking an index of large- and mid-cap US equities that are selected and weighted based on shareholder yield characterized by dividends, net shares buybacks, and debt reduction. SHRY was launched on Jun 20, 2017 and is issued by First Trust.