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

Key Points

• Short interest in FTGC plunged 91.4% in June, falling to 525,310 shares from 6.14 million shares two weeks earlier. That leaves about 0.5% of the fund’s shares sold short.
• The ETF edged lower on Friday, trading down $0.03 to $28.02 on volume above its average. FTGC remains near its 52-week range of $22.70 to $30.65.
• The fund paid a quarterly dividend of $0.1691 per share, equal to an annualized yield of 2.4%. The article also notes several institutional investors recently increased or initiated positions in the fund.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) saw a large drop in short interest during 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. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 741,593 shares, the days-to-cover ratio is presently 0.7 days.

First Trust Global Tactical Commodity Strategy Fund Stock Down 0.1%

FTGC traded down $0.03 on Friday, reaching $28.02. The company 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 fifty-two week low of $22.70 and a fifty-two week high of $30.65. The company's fifty day moving average is $28.56 and its 200 day moving average is $27.03.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The company also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 25th.

Hedge Funds Weigh In On First Trust Global Tactical Commodity Strategy Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Cooper Financial Group acquired a new stake in First Trust Global Tactical Commodity Strategy Fund during the 2nd quarter worth approximately $10,454,000. IFP Advisors Inc grew its holdings in First Trust Global Tactical Commodity Strategy Fund by 2,744.4% in the 3rd quarter. IFP Advisors Inc now owns 344,766 shares of the company's stock valued at $8,929,000 after buying an additional 332,645 shares in the last quarter. Farther Finance Advisors LLC increased its position in First Trust Global Tactical Commodity Strategy Fund by 3,409.6% during the 4th quarter. Farther Finance Advisors LLC now owns 314,844 shares of the company's stock worth $7,314,000 after buying an additional 305,873 shares during the period. Axxcess Wealth Management LLC increased its position in First Trust Global Tactical Commodity Strategy Fund by 68.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 465,969 shares of the company's stock worth $10,824,000 after buying an additional 189,361 shares during the period. Finally, Financial Enhancement Group LLC lifted its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 38.9% during the second quarter. Financial Enhancement Group LLC now owns 666,514 shares of the company's stock worth $18,029,000 after buying an additional 186,572 shares in the last quarter.

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.

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