First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Short Interest Up 70.7% in July

Key Points

• TDIV short interest surged 70.7% in July to 175,937 shares, representing 0.5% of shares outstanding and a short-interest ratio of 1.5 days.
• TDIV recently traded at $116.75, between its 52-week range of $89.75 to $128.50, while its market capitalization stood at approximately $4.43 billion.
• The fund increased its quarterly dividend to $0.4231 per share, equivalent to an annualized $1.69 payout and a 1.4% yield; several institutional investors also expanded their holdings.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 175,937 shares, an increase of 70.7% from the July 15th total of 103,094 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 115,932 shares, the short-interest ratio is presently 1.5 days.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

TDIV traded down $0.28 during trading on Monday, hitting $116.75. The stock had a trading volume of 19,110 shares, compared to its average volume of 127,082. The company has a 50 day moving average price of $113.39 and a 200-day moving average price of $106.74. First Trust NASDAQ Technology Dividend Index Fund has a one year low of $89.75 and a one year high of $128.50. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 25.63 and a beta of 1.16.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.4231 per share. This is an increase from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.32. This represents a $1.69 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 25th.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. grew its stake in First Trust NASDAQ Technology Dividend Index Fund by 17.1% during the second quarter. Raymond James Financial Inc. now owns 1,386,401 shares of the company's stock worth $125,012,000 after buying an additional 202,281 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 203.8% in the 1st quarter. Kestra Advisory Services LLC now owns 183,492 shares of the company's stock valued at $17,186,000 after buying an additional 123,094 shares in the last quarter. Bank of America Corp DE raised its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 7.6% in the 1st quarter. Bank of America Corp DE now owns 1,485,495 shares of the company's stock valued at $139,131,000 after buying an additional 104,853 shares in the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in shares of First Trust NASDAQ Technology Dividend Index Fund by 10.2% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 1,059,649 shares of the company's stock worth $102,616,000 after acquiring an additional 97,726 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 32.3% during the 1st quarter. NewEdge Advisors LLC now owns 397,640 shares of the company's stock worth $37,243,000 after acquiring an additional 97,148 shares in the last quarter.

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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