First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Sees Large Growth in Short Interest

Key Points

• Short interest in the First Trust NASDAQ Technology Dividend Index Fund (TDIV) rose significantly by 168.1%, increasing from 54,900 shares to 147,200 shares in September.
• Multiple institutional investors have recently made new stakes in TDIV, with notable investments around $27,000 to $54,000.
• TDIV announced a quarterly dividend of $0.2762, representing a 1.1% dividend yield, and has a current market capitalization of $3.79 billion.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 147,200 shares, a growth of 168.1% from the September 15th total of 54,900 shares. Based on an average daily volume of 110,100 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 110,100 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Several institutional investors and hedge funds have recently modified their holdings of TDIV. First Pacific Financial bought a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at approximately $27,000. Blue Trust Inc. bought a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at approximately $27,000. Arlington Trust Co LLC bought a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter valued at approximately $37,000. Trust Co. of Toledo NA OH bought a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 2nd quarter valued at approximately $49,000. Finally, Elevation Wealth Partners LLC bought a new stake in First Trust NASDAQ Technology Dividend Index Fund in the 3rd quarter valued at approximately $54,000.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

Shares of TDIV opened at $99.49 on Friday. The stock has a 50 day simple moving average of $95.97 and a 200 day simple moving average of $87.06. First Trust NASDAQ Technology Dividend Index Fund has a 52-week low of $62.54 and a 52-week high of $100.89. The firm has a market capitalization of $3.79 billion, a PE ratio of 25.63 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were given a $0.2762 dividend. The ex-dividend date was Thursday, September 25th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%.

First Trust NASDAQ Technology Dividend Index Fund Company Profile

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

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