First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Sees Significant Decline in Short Interest

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 347,934 shares, a drop of 34.0% from the January 15th total of 527,570 shares. Based on an average daily trading volume, of 1,421,481 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the shares of the company are short sold. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,421,481 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Morningstar Dividend Leaders Index Fund Stock Up 0.5%

NYSEARCA:FDL traded up $0.25 during trading hours on Friday, hitting $50.88. 805,478 shares of the stock traded hands, compared to its average volume of 1,259,526. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 13.96 and a beta of 0.73. The stock has a 50 day moving average price of $46.15 and a 200 day moving average price of $44.34. First Trust Morningstar Dividend Leaders Index Fund has a 1 year low of $37.29 and a 1 year high of $51.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GoalVest Advisory LLC purchased a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund during the 3rd quarter worth approximately $30,000. Providence Capital Advisors LLC purchased a new stake in First Trust Morningstar Dividend Leaders Index Fund during the fourth quarter valued at approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of First Trust Morningstar Dividend Leaders Index Fund in the 4th quarter valued at approximately $37,000. First Command Advisory Services Inc. purchased a new stake in First Trust Morningstar Dividend Leaders Index Fund during the 4th quarter valued at $38,000. Finally, CX Institutional bought a new stake in First Trust Morningstar Dividend Leaders Index Fund in the third quarter worth $39,000.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.