First Trust NASDAQ Technology Dividend Index Fund Short Interest Drops Significantly in August

According to recent data, short interest in First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) experienced a significant drop in August. As of August 31st, the total number of shares with short interest was 36,600, representing a decrease of 32.5% from the previous total on August 15th, which was 54,200 shares. The days-to-cover ratio, based on the average daily trading volume of 101,500 shares, is currently 0.4 days.

Shares of TDIV traded down $0.87 to reach $58.08 on Friday, with a total of 60,899 shares exchanged. The stock has a market capitalization of $1.97 billion, a PE ratio of 14.60, and a beta of 1.00. It has a fifty-two week low of $41.61 and a fifty-two week high of $60.30. The stock’s fifty-day simple moving average is $58.70, and its 200-day simple moving average is $55.76.

Furthermore, First Trust NASDAQ Technology Dividend Index Fund recently announced an increase in its quarterly dividend. On Friday, June 30th, the dividend was paid to investors of record as of Wednesday, June 28th. The dividend amount comes to $0.2627 per share, which is higher than the previous quarterly dividend of $0.18. This represents an annualized dividend of $1.05 and a dividend yield of 1.81%.

In terms of institutional trading, several large investors have made changes to their positions in the company. Cetera Investment Advisers increased its stake by 17.5% during the fourth quarter, while J Arnold Wealth Management Co boosted its stake by 16.8% in the same period. Kingsview Wealth Management LLC and Advisors Capital Management LLC also increased their positions in the company, and Atria Wealth Solutions Inc. raised its stake by 4.2%.

First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that tracks a modified dividend-weighted index of US-listed technology companies. The fund was launched on August 14, 2012, and is managed by First Trust.

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