Short Interest in First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Expands By 223.1%

Key Points

• First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) experienced a 223.1% increase in short interest in July, rising to 257,500 shares from 79,700 shares, with a short-interest ratio of 0.4 days.
• Institutional investors have shown significant interest, with CW Advisors LLC and Raymond James Financial Inc. acquiring stakes valued at approximately $19.9 million and $18.8 million, respectively, during recent quarters.
• The fund announced an increase in its quarterly dividend to $0.1509 per share, representing an annual yield of 2.4%, up from the previous dividend of $0.14.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 257,500 shares, agrowthof223.1% from the July 15th total of 79,700 shares. Based on an average daily volume of 616,800 shares, the days-to-cover ratio is presently 0.4 days. Currently,0.3% of the shares of the company are short sold. Currently,0.3% of the shares of the company are short sold. Based on an average daily volume of 616,800 shares, the days-to-cover ratio is presently 0.4 days.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in First Trust Global Tactical Commodity Strategy Fund in the 2nd quarter worth approximately $27,000. CX Institutional purchased a new stake in First Trust Global Tactical Commodity Strategy Fund in the 1st quarter worth approximately $29,000. Creative Financial Designs Inc. ADV increased its holdings in First Trust Global Tactical Commodity Strategy Fund by 1,895.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,197 shares of the company's stock worth $30,000 after acquiring an additional 1,137 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in First Trust Global Tactical Commodity Strategy Fund in the 4th quarter worth approximately $50,000. Finally, AdvisorNet Financial Inc increased its holdings in First Trust Global Tactical Commodity Strategy Fund by 83.4% in the 1st quarter. AdvisorNet Financial Inc now owns 2,326 shares of the company's stock worth $59,000 after acquiring an additional 1,058 shares in the last quarter.

First Trust Global Tactical Commodity Strategy Fund Price Performance

Shares of NASDAQ FTGC traded up $0.22 during midday trading on Thursday, hitting $25.18. 514,434 shares of the company's stock traded hands, compared to its average volume of 600,091. First Trust Global Tactical Commodity Strategy Fund has a 1 year low of $22.22 and a 1 year high of $26.01. The firm has a fifty day moving average of $25.17 and a 200 day moving average of $24.92.

First Trust Global Tactical Commodity Strategy Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a dividend of $0.1509 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 26th. This is an increase from First Trust Global Tactical Commodity Strategy Fund's previous quarterly dividend of $0.14.

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.