Short Interest in First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Expands By 281.5%

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,321,685 shares, a growth of 281.5% from the February 26th total of 346,466 shares. Based on an average daily trading volume, of 875,790 shares, the short-interest ratio is presently 1.5 days. Approximately 1.6% of the company’s stock are short sold.

First Trust Global Tactical Commodity Strategy Fund Price Performance

Shares of FTGC stock traded down $0.29 during trading hours on Thursday, reaching $27.97. The company had a trading volume of 542,749 shares, compared to its average volume of 705,789. First Trust Global Tactical Commodity Strategy Fund has a twelve month low of $22.70 and a twelve month high of $29.00. The stock’s fifty day simple moving average is $25.96 and its 200 day simple moving average is $25.79.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be issued a $0.4093 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, March 26th.

Institutional Trading of First Trust Global Tactical Commodity Strategy Fund

A number of hedge funds have recently made changes to their positions in FTGC. Rockefeller Capital Management L.P. boosted its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 8.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,471 shares of the company’s stock valued at $220,000 after purchasing an additional 759 shares during the period. TMB Capital Partners LLC purchased a new stake in First Trust Global Tactical Commodity Strategy Fund during the 4th quarter worth $306,000. Axxcess Wealth Management LLC increased its stake in First Trust Global Tactical Commodity Strategy Fund by 68.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 464,568 shares of the company’s stock worth $10,792,000 after buying an additional 187,960 shares during the period. Ameriflex Group Inc. lifted its holdings in First Trust Global Tactical Commodity Strategy Fund by 67.6% in the 4th quarter. Ameriflex Group Inc. now owns 3,134 shares of the company’s stock worth $73,000 after buying an additional 1,264 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in First Trust Global Tactical Commodity Strategy Fund in the 4th quarter worth $203,000.

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.