First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Stock Short Interest Drops 34.8%

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 122,671 shares, a decline of 34.8% from the September 30th total of 188,203 shares. Based on an average daily trading volume, of 609,498 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Value Line Dividend Index Fund Price Performance

FVD stock opened at $50.95 on Wednesday. First Trust Value Line Dividend Index Fund has a 1 year low of $44.83 and a 1 year high of $51.49. The company has a market cap of $8.12 billion, a P/E ratio of 18.85 and a beta of 0.61. The stock’s fifty day moving average price is $49.05 and its 200-day moving average price is $48.61.

Institutional Investors Weigh In On First Trust Value Line Dividend Index Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new stake in shares of First Trust Value Line Dividend Index Fund during the 3rd quarter worth approximately $82,726,000. Baird Financial Group Inc. boosted its holdings in shares of First Trust Value Line Dividend Index Fund by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 889,586 shares of the company’s stock valued at $42,860,000 after buying an additional 59,092 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of First Trust Value Line Dividend Index Fund by 5.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 889,193 shares of the company’s stock valued at $41,712,000 after buying an additional 46,274 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of First Trust Value Line Dividend Index Fund by 1.9% in the 2nd quarter. NewEdge Advisors LLC now owns 584,925 shares of the company’s stock valued at $28,182,000 after buying an additional 11,166 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in shares of First Trust Value Line Dividend Index Fund in the 3rd quarter valued at $23,300,000.

First Trust Value Line Dividend Index Fund Company Profile

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.