First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Sees Large Decline in Short Interest

Key Points

• FTGC short interest plunged 60.6% to 197,705 shares as of August 14, down from 501,375 shares on July 30. Short interest now represents about 0.2% of shares outstanding, with a 0.4-day days-to-cover ratio.
• Several institutional investors recently initiated or increased positions in FTGC, including Geneos Wealth Management, which raised its holdings by 202.5%, and Ameriflex Group, which increased its stake by 67.6%.
• FTGC shares rose 0.3% to $30.69, near the fund’s 52-week high of $30.83. The fund declared a quarterly dividend of $0.1691 per share, equivalent to an annualized yield of approximately 2.2%.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 197,705 shares, a drop of 60.6% from the July 30th total of 501,375 shares. Approximately 0.2% of the company's stock are short sold. Based on an average daily volume of 470,583 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On First Trust Global Tactical Commodity Strategy Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in shares of First Trust Global Tactical Commodity Strategy Fund during the 1st quarter worth approximately $73,000. Ameriflex Group Inc. increased its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 67.6% in the fourth quarter. Ameriflex Group Inc. now owns 3,134 shares of the company's stock valued at $73,000 after purchasing an additional 1,264 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in First Trust Global Tactical Commodity Strategy Fund during the first quarter worth approximately $101,000. Geneos Wealth Management Inc. lifted its position in First Trust Global Tactical Commodity Strategy Fund by 202.5% during the second quarter. Geneos Wealth Management Inc. now owns 4,296 shares of the company's stock worth $106,000 after buying an additional 2,876 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in First Trust Global Tactical Commodity Strategy Fund during the fourth quarter worth $151,000.

First Trust Global Tactical Commodity Strategy Fund Stock Up 0.3%

Shares of FTGC stock traded up $0.08 during mid-day trading on Friday, reaching $30.69. The stock had a trading volume of 131,764 shares, compared to its average volume of 732,556. First Trust Global Tactical Commodity Strategy Fund has a 1-year low of $22.70 and a 1-year high of $30.83. The business's fifty day moving average is $28.72 and its 200-day moving average is $28.30.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.1691 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.68 dividend on an annualized basis and a yield of 2.2%.

First Trust Global Tactical Commodity Strategy Fund Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source