First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Short Interest Up 77.4% in August

Key Points

• Short interest surged 77.4% in August to 350,726 shares, representing 0.3% of FTGC’s outstanding shares and a days-to-cover ratio of 0.9.
• FTGC shares fell 0.6% to $31.39, remaining near their 52-week high of $31.71 and above both the 50-day and 200-day moving averages.
• The fund’s quarterly dividend was reduced to $0.1691 per share, or approximately $0.68 annually, implying a 2.2% yield; several institutional investors also increased or initiated positions.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 350,726 shares, a growth of 77.4% from the August 15th total of 197,705 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 406,224 shares, the days-to-cover ratio is presently 0.9 days.

First Trust Global Tactical Commodity Strategy Fund Stock Down 0.6%

Shares of NASDAQ:FTGC traded down $0.18 on Wednesday, reaching $31.39. 598,098 shares of the company traded hands, compared to its average volume of 723,446. First Trust Global Tactical Commodity Strategy Fund has a 52 week low of $22.70 and a 52 week high of $31.71. The business's 50-day simple moving average is $29.75 and its 200 day simple moving average is $28.88.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

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

Institutional Investors Weigh In On First Trust Global Tactical Commodity Strategy Fund

A number of large investors have recently modified their holdings of the stock. Cooper Financial Group purchased a new position in shares of First Trust Global Tactical Commodity Strategy Fund in the 2nd quarter worth $10,454,000. Axxcess Wealth Management LLC boosted its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 68.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 465,969 shares of the company's stock worth $10,824,000 after acquiring an additional 189,361 shares during the period. Financial Enhancement Group LLC grew its position in shares of First Trust Global Tactical Commodity Strategy Fund by 38.9% during the second quarter. Financial Enhancement Group LLC now owns 666,514 shares of the company's stock worth $18,029,000 after purchasing an additional 186,572 shares in the last quarter. Royal Bank of Canada grew its position in shares of First Trust Global Tactical Commodity Strategy Fund by 10.4% during the first quarter. Royal Bank of Canada now owns 1,567,531 shares of the company's stock worth $45,003,000 after purchasing an additional 148,098 shares in the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in First Trust Global Tactical Commodity Strategy Fund during the 2nd quarter valued at approximately $35,000.

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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