First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sees Significant Drop in Short Interest

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 120,695 shares, a drop of 50.2% from the April 15th total of 242,161 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 758,800 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of First Trust Morningstar Dividend Leaders Index Fund

Several hedge funds have recently bought and sold shares of the company. Basepoint Wealth LLC lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 1.2% in the 4th quarter. Basepoint Wealth LLC now owns 17,765 shares of the exchange traded fund’s stock valued at $788,000 after purchasing an additional 215 shares during the last quarter. FSB Premier Wealth Management Inc. lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 0.7% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 33,758 shares of the exchange traded fund’s stock valued at $1,497,000 after purchasing an additional 223 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 1.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 19,485 shares of the exchange traded fund’s stock valued at $864,000 after purchasing an additional 260 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 0.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,978 shares of the exchange traded fund’s stock valued at $1,301,000 after purchasing an additional 266 shares during the last quarter. Finally, Bensler LLC lifted its position in First Trust Morningstar Dividend Leaders Index Fund by 5.6% in the 4th quarter. Bensler LLC now owns 5,107 shares of the exchange traded fund’s stock valued at $226,000 after purchasing an additional 270 shares during the last quarter.

First Trust Morningstar Dividend Leaders Index Fund Trading Up 0.0%

NYSEARCA:FDL traded up $0.01 during mid-day trading on Friday, hitting $49.68. The stock had a trading volume of 415,911 shares, compared to its average volume of 1,148,662. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 13.96 and a beta of 0.59. The company has a 50 day simple moving average of $49.92 and a 200-day simple moving average of $47.32. First Trust Morningstar Dividend Leaders Index Fund has a 52 week low of $40.99 and a 52 week high of $51.46.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.