First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Sees Large Drop in Short Interest

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 525,310 shares, a drop of 91.4% from the June 15th total of 6,136,712 shares. Based on an average trading volume of 741,593 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On First Trust Global Tactical Commodity Strategy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 10.4% in the first quarter. Royal Bank of Canada now owns 1,567,531 shares of the company’s stock valued at $45,003,000 after buying an additional 148,098 shares during the period. UBS Group AG increased its stake in First Trust Global Tactical Commodity Strategy Fund by 1.8% during the 4th quarter. UBS Group AG now owns 1,373,318 shares of the company’s stock worth $31,902,000 after acquiring an additional 23,761 shares during the period. Carrera Capital Advisors raised its holdings in First Trust Global Tactical Commodity Strategy Fund by 16.1% in the 4th quarter. Carrera Capital Advisors now owns 1,071,159 shares of the company’s stock valued at $24,883,000 after acquiring an additional 148,930 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in First Trust Global Tactical Commodity Strategy Fund by 4.5% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 944,969 shares of the company’s stock valued at $21,952,000 after acquiring an additional 41,105 shares in the last quarter. Finally, Csenge Advisory Group raised its holdings in First Trust Global Tactical Commodity Strategy Fund by 9.6% in the 4th quarter. Csenge Advisory Group now owns 869,681 shares of the company’s stock valued at $20,203,000 after acquiring an additional 76,281 shares in the last quarter.

First Trust Global Tactical Commodity Strategy Fund Price Performance

First Trust Global Tactical Commodity Strategy Fund stock traded down $0.03 during midday trading on Friday, hitting $28.02. The company’s stock had a trading volume of 839,117 shares, compared to its average volume of 807,017. First Trust Global Tactical Commodity Strategy Fund has a 1-year low of $22.70 and a 1-year high of $30.65. The company has a 50-day moving average price of $28.56 and a two-hundred day moving average price of $27.03.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.1691 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.68 annualized dividend and a dividend yield of 2.4%.

About First Trust Global Tactical Commodity Strategy Fund

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.