First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Short Interest Update

Key Points

• Short interest plunged 54.5% to 274,340 shares as of April 15 (about 0.3% of shares), leaving a days-to-cover ratio of just 0.3 days based on average daily volume.
• The fund paid a quarterly dividend of $0.4093 on March 31 (annualized $1.64), implying a 5.6% yield.
• Multiple institutional investors boosted positions in the fund during the latest quarter — including UBS, Carrera Capital, Flaharty Asset Management, Cyndeo Wealth and Csenge Advisory — each increasing holdings into seven-figure share totals.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 274,340 shares, a decline of 54.5% from the March 31st total of 603,287 shares. Based on an average daily trading volume, of 885,221 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.3% of the company's shares are sold short.

First Trust Global Tactical Commodity Strategy Fund Price Performance

FTGC traded down $0.05 during mid-day trading on Friday, hitting $29.07. 484,129 shares of the stock were exchanged, compared to its average volume of 748,962. The firm's fifty day moving average is $27.65 and its two-hundred day moving average is $26.21. First Trust Global Tactical Commodity Strategy Fund has a 1-year low of $22.70 and a 1-year high of $29.17.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a dividend of $0.4093 per share. The ex-dividend date was Thursday, March 26th. This represents a $1.64 dividend on an annualized basis and a yield of 5.6%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 1.8% in the fourth quarter. UBS Group AG now owns 1,373,318 shares of the company's stock valued at $31,902,000 after purchasing an additional 23,761 shares in the last quarter. Carrera Capital Advisors boosted its position 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 buying an additional 148,930 shares during the period. Flaharty Asset Management LLC boosted its position in First Trust Global Tactical Commodity Strategy Fund by 5.2% in the 3rd quarter. Flaharty Asset Management LLC now owns 978,681 shares of the company's stock valued at $25,349,000 after buying an additional 48,812 shares during the period. Cyndeo Wealth Partners LLC grew its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 4.5% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 944,969 shares of the company's stock worth $21,952,000 after acquiring an additional 41,105 shares in the last quarter. Finally, Csenge Advisory Group increased its position in shares of First Trust Global Tactical Commodity Strategy Fund by 9.6% during the fourth quarter. Csenge Advisory Group now owns 869,681 shares of the company's stock worth $20,203,000 after acquiring an additional 76,281 shares during the period.

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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