First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Short Interest Update

Key Points

• Short interest in First Trust NASDAQ Technology Dividend Index Fund (TDIV) saw a significant drop of 62.2%, decreasing from 80,600 shares to 30,500 shares as of July 31st, indicating a greater investor confidence in the fund.
• TDIV recently increased its quarterly dividend to $0.3191 per share, up from $0.27, resulting in an annualized dividend of $1.28 and a yield of 1.4%.
• Several institutional investors have strengthened their positions in TDIV, with notable increases from firms such as LPL Financial LLC, Raymond James Financial Inc., and Envestnet Asset Management Inc.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 30,500 shares, adeclineof62.2% from the July 15th total of 80,600 shares. Approximately0.1% of the shares of the company are sold short. Based on an average daily volume of 119,200 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 119,200 shares, the short-interest ratio is presently 0.3 days. Approximately0.1% of the shares of the company are sold short.

First Trust NASDAQ Technology Dividend Index Fund Trading Down 0.8%

TDIV stock traded down $0.74 during midday trading on Friday, hitting $91.92. The company had a trading volume of 56,907 shares, compared to its average volume of 128,653. First Trust NASDAQ Technology Dividend Index Fund has a 52 week low of $62.54 and a 52 week high of $93.17. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 25.63 and a beta of 1.00. The stock's 50 day moving average price is $90.14 and its 200 day moving average price is $81.52.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were given a $0.3191 dividend. The ex-dividend date was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.4%. This is a boost from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27.

Institutional Investors Weigh In On First Trust NASDAQ Technology Dividend Index Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 5.3% during the 1st quarter. LPL Financial LLC now owns 2,366,613 shares of the company's stock worth $174,206,000 after purchasing an additional 119,189 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of First Trust NASDAQ Technology Dividend Index Fund by 17.1% in the second quarter. Raymond James Financial Inc. now owns 1,386,401 shares of the company's stock valued at $125,012,000 after buying an additional 202,281 shares during the last quarter. Bank of America Corp DE increased its stake in First Trust NASDAQ Technology Dividend Index Fund by 16.0% during the 4th quarter. Bank of America Corp DE now owns 1,378,342 shares of the company's stock worth $108,145,000 after acquiring an additional 190,519 shares during the period. Envestnet Asset Management Inc. grew its position in First Trust NASDAQ Technology Dividend Index Fund by 36.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 853,225 shares of the company's stock worth $76,935,000 after acquiring an additional 228,524 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 5.6% in the 1st quarter. Royal Bank of Canada now owns 486,637 shares of the company's stock valued at $35,822,000 after purchasing an additional 25,912 shares during the period.

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.