First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Short Interest Update

Key Points

• Short interest in FTGC fell 46.3% to 188,399 shares as of September 15, representing about 0.2% of shares outstanding and just 0.3 days to cover.
• Several wealth-management firms recently established new positions in FTGC, with reported investments ranging from approximately $35,000 to $220,000.
• FTGC shares opened at $30.69, near their 12-month high, while the fund announced a reduced quarterly dividend of $0.1317, equivalent to a 1.7% annualized yield.

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - ) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 188,399 shares, a drop of 46.3% from the August 31st total of 350,726 shares. Approximately 0.2% of the company's stock are short sold. Based on an average trading volume of 579,320 shares, the days-to-cover ratio is currently 0.3 days.

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

A number of large investors have recently added to or reduced their stakes in FTGC. Coppell Advisory Solutions LLC purchased a new position in shares of First Trust Global Tactical Commodity Strategy Fund in the 2nd quarter worth approximately $35,000. Advisors Preferred LLC bought a new position in shares of First Trust Global Tactical Commodity Strategy Fund during the 1st quarter worth approximately $73,000. Merkkuri Wealth Advisors LLC purchased a new stake in First Trust Global Tactical Commodity Strategy Fund during the first quarter valued at approximately $101,000. Wealth Effects LLC purchased a new stake in First Trust Global Tactical Commodity Strategy Fund during the first quarter valued at approximately $214,000. Finally, Signal Advisors Wealth LLC acquired a new stake in First Trust Global Tactical Commodity Strategy Fund in the first quarter valued at approximately $220,000.

First Trust Global Tactical Commodity Strategy Fund Trading Down 1.0%

Shares of NASDAQ:FTGC opened at $30.69 on Tuesday. First Trust Global Tactical Commodity Strategy Fund has a 12-month low of $22.70 and a 12-month high of $31.71. The business's fifty day simple moving average is $30.24 and its 200-day simple moving average is $29.17.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be paid a $0.1317 dividend. This represents a $0.53 annualized dividend and a yield of 1.7%. This is a drop from First Trust Global Tactical Commodity Strategy Fund's previous quarterly dividend of $0.1691. The ex-dividend date is Thursday, September 24th.

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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