Short Interest in First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Declines By 44.8%

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,797 shares, a drop of 44.8% from the April 15th total of 3,253 shares. Based on an average daily volume of 3,877 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

First Trust Dorsey Wright Momentum & Low Volatility ETF Stock Performance

Shares of DVOL stock traded down $0.39 during mid-day trading on Friday, hitting $36.37. 2,351 shares of the stock traded hands, compared to its average volume of 10,897. First Trust Dorsey Wright Momentum & Low Volatility ETF has a twelve month low of $33.60 and a twelve month high of $37.50. The firm has a market cap of $72.74 million, a price-to-earnings ratio of 24.91 and a beta of 0.78. The company’s 50-day simple moving average is $35.69 and its 200-day simple moving average is $35.61.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a $0.0292 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On First Trust Dorsey Wright Momentum & Low Volatility ETF

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 3rd quarter worth $39,000. O Shaughnessy Asset Management LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 4th quarter worth $111,000. Envestnet Asset Management Inc. acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 3rd quarter worth $201,000. Warner Group LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 3rd quarter worth $346,000. Finally, Fifth Third Bancorp acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 1st quarter worth $342,000.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.