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

Key Points

• Short interest in TDIV surged to 121,115 shares as of April 15, a 361.3% increase from March 31, equal to about 0.3% of shares outstanding and a days-to-cover of 1.2.
• Institutional activity picked up as several hedge funds bought TDIV—most notably Jane Street opened a new ~\$1.98M position and Qube Research boosted its holding 3,107.8% to 9,014 shares (~\$813k).
• TDIV trades near its 52-week high (opened at \$107.33), has a market cap of \$4.07B, and recently paid a quarterly dividend of \$0.3153 per share (annualized \$1.26, yield ~1.2%).

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 121,115 shares, a growth of 361.3% from the March 31st total of 26,253 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 101,849 shares, the days-to-cover ratio is currently 1.2 days.

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

A number of hedge funds have recently bought and sold shares of TDIV. Jane Street Group LLC bought a new position in First Trust NASDAQ Technology Dividend Index Fund during the first quarter worth about $1,979,000. Focus Partners Wealth increased its position in First Trust NASDAQ Technology Dividend Index Fund by 7.3% during the first quarter. Focus Partners Wealth now owns 11,082 shares of the company's stock worth $816,000 after acquiring an additional 756 shares during the period. Cerity Partners LLC bought a new position in First Trust NASDAQ Technology Dividend Index Fund during the second quarter worth about $222,000. Qube Research & Technologies Ltd increased its position in First Trust NASDAQ Technology Dividend Index Fund by 3,107.8% during the second quarter. Qube Research & Technologies Ltd now owns 9,014 shares of the company's stock worth $813,000 after acquiring an additional 8,733 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in First Trust NASDAQ Technology Dividend Index Fund during the second quarter worth about $67,000.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

NASDAQ:TDIV opened at $107.33 on Friday. First Trust NASDAQ Technology Dividend Index Fund has a 52 week low of $71.51 and a 52 week high of $108.24. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 25.63 and a beta of 1.08. The firm's 50-day simple moving average is $97.85 and its 200 day simple moving average is $98.20.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.3153 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, March 26th.

About First Trust NASDAQ Technology Dividend Index Fund

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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