First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) Sees Large Volume Increase – Here’s What Happened

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF (NASDAQ:HYLS) shares saw unusually-high trading volume on Wednesday. Approximately 687,563 shares were traded during mid-day trading, an increase of 181% from the previous session’s volume of 244,941 shares. The stock last traded at $39.39 and had previously closed at $39.51.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Price Performance

The firm’s 50 day moving average price is $40.32 and its 200-day moving average price is $40.64.

First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.22 per share. This represents a $2.64 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Thursday, September 24th. This is a drop from First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF’s previous monthly dividend of $0.2250.

Hedge Funds Weigh In On First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC lifted its holdings in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 9.3% during the fourth quarter. LPL Financial LLC now owns 3,937,904 shares of the company’s stock valued at $164,841,000 after acquiring an additional 335,843 shares during the period. Royal Bank of Canada lifted its holdings in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 5.6% during the 1st quarter. Royal Bank of Canada now owns 751,041 shares of the company’s stock worth $30,470,000 after buying an additional 39,905 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 331,759 shares of the company’s stock valued at $13,486,000 after acquiring an additional 14,618 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 4.3% in the first quarter. Elevation Point Wealth Partners LLC now owns 275,331 shares of the company’s stock valued at $11,170,000 after acquiring an additional 11,347 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF by 35.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 237,111 shares of the company’s stock worth $9,620,000 after purchasing an additional 62,493 shares during the last quarter.

About First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF

The First Trust Tactical High Yield ETF (HYLS) is an exchange-traded fund that is based on the ICE BoFA US High Yield Constrained index. The fund is an actively managed fund holding up to 130% in long positions in high yield bonds it expects to outperform, and up to 30% short positions in issues it expects to underperform. HYLS was launched on Feb 27, 2013 and is managed by First Trust.