Short Interest in First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Drops By 62.2%

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) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 30,500 shares, adecreaseof62.2% from the July 15th total of 80,600 shares. Based on an average daily trading 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. Approximately0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 119,200 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC raised its holdings in First Trust NASDAQ Technology Dividend Index Fund by 10.4% during the fourth quarter. Prosperity Consulting Group LLC now owns 3,250 shares of the company's stock worth $255,000 after purchasing an additional 307 shares in the last quarter. IHT Wealth Management LLC purchased a new position in First Trust NASDAQ Technology Dividend Index Fund during the fourth quarter worth about $208,000. MML Investors Services LLC raised its holdings in First Trust NASDAQ Technology Dividend Index Fund by 15.7% during the fourth quarter. MML Investors Services LLC now owns 49,444 shares of the company's stock worth $3,879,000 after purchasing an additional 6,719 shares in the last quarter. Stifel Financial Corp raised its holdings in First Trust NASDAQ Technology Dividend Index Fund by 1.1% during the fourth quarter. Stifel Financial Corp now owns 254,760 shares of the company's stock worth $19,989,000 after purchasing an additional 2,716 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in First Trust NASDAQ Technology Dividend Index Fund during the fourth quarter worth about $208,000.

First Trust NASDAQ Technology Dividend Index Fund Price Performance

Shares of NASDAQ:TDIV traded up $0.01 on Wednesday, reaching $91.05. The company's stock had a trading volume of 70,958 shares, compared to its average volume of 127,602. The stock's 50-day moving average is $90.49 and its two-hundred day moving average is $81.73. 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 capitalization of $3.36 billion, a P/E ratio of 25.63 and a beta of 1.00.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a $0.3191 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This is a positive change from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%.

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.