First Trust Senior Loan ETF (NASDAQ:FTSL) Sees Unusually-High Trading Volume – Should You Buy?

First Trust Senior Loan ETF (NASDAQ:FTSL) shares saw unusually-high trading volume on Monday . Approximately 707,692 shares were traded during mid-day trading, an increase of 114% from the previous session’s volume of 330,886 shares.The stock last traded at $44.66 and had previously closed at $44.51.

First Trust Senior Loan ETF Stock Performance

The firm’s 50-day moving average price is $45.13 and its 200 day moving average price is $45.63.

First Trust Senior Loan ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.235 per share. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Investors Weigh In On First Trust Senior Loan ETF

Institutional investors have recently made changes to their positions in the company. New England Private Wealth Advisors LLC lifted its stake in First Trust Senior Loan ETF by 2,022.3% during the fourth quarter. New England Private Wealth Advisors LLC now owns 1,774,626 shares of the company’s stock worth $81,455,000 after purchasing an additional 1,691,007 shares during the last quarter. Raymond James Financial Inc. increased its stake in First Trust Senior Loan ETF by 4.0% during the third quarter. Raymond James Financial Inc. now owns 1,563,161 shares of the company’s stock valued at $71,655,000 after purchasing an additional 60,649 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of First Trust Senior Loan ETF by 1.6% during the fourth quarter. Royal Bank of Canada now owns 1,550,685 shares of the company’s stock worth $71,145,000 after purchasing an additional 25,058 shares during the period. One Capital Management LLC raised its holdings in shares of First Trust Senior Loan ETF by 11.3% during the fourth quarter. One Capital Management LLC now owns 1,263,061 shares of the company’s stock worth $57,949,000 after purchasing an additional 128,141 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of First Trust Senior Loan ETF by 7.2% in the 2nd quarter. First Trust Advisors LP now owns 1,200,153 shares of the company’s stock worth $55,104,000 after buying an additional 80,291 shares during the last quarter.

About First Trust Senior Loan ETF

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.