First Trust Senior Loan ETF (NASDAQ:FTSL) Sets New 52-Week Low – Should You Sell?

First Trust Senior Loan ETF (NASDAQ:FTSL)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $44.34 and last traded at $44.36, with a volume of 8,390 shares. The stock had previously closed at $44.57.

First Trust Senior Loan ETF Price Performance

The firm’s 50-day moving average price is $44.80 and its two-hundred day moving average price is $44.90.

First Trust Senior Loan ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 21st will be issued a $0.2250 dividend. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.1%.

Institutional Trading of First Trust Senior Loan ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its position in shares of First Trust Senior Loan ETF by 113.7% in the third quarter. Pinnacle Associates Ltd. now owns 98,675 shares of the company’s stock valued at $4,398,000 after purchasing an additional 52,490 shares during the period. Wagner Wealth Management Corp bought a new position in shares of First Trust Senior Loan ETF in the 3rd quarter worth about $614,000. New England Private Wealth Advisors LLC grew its holdings in shares of First Trust Senior Loan ETF by 1.5% during the third quarter. New England Private Wealth Advisors LLC now owns 88,985 shares of the company’s stock valued at $3,966,000 after purchasing an additional 1,328 shares during the last quarter. IFP Advisors Inc grew its position in shares of First Trust Senior Loan ETF by 8.8% during the third quarter. IFP Advisors Inc now owns 7,367 shares of the company’s stock worth $328,000 after acquiring an additional 593 shares during the last quarter. Finally, Encompass More Asset Management acquired a new position in First Trust Senior Loan ETF during the 3rd quarter worth $344,000.

First Trust Senior Loan ETF Company Profile

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.