First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Sees Significant Increase in Short Interest

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 11,871 shares, an increase of 2,074.2% from the May 14th total of 546 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 18,779 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers lifted its stake in First Trust Dorsey Wright Momentum & Low Volatility ETF by 12.0% during the first quarter. Cetera Investment Advisers now owns 19,851 shares of the company’s stock worth $686,000 after purchasing an additional 2,125 shares during the last quarter. Balefire LLC lifted its stake in First Trust Dorsey Wright Momentum & Low Volatility ETF by 48.6% during the first quarter. Balefire LLC now owns 33,142 shares of the company’s stock worth $1,146,000 after purchasing an additional 10,840 shares during the last quarter. Fifth Third Bancorp purchased a new stake in First Trust Dorsey Wright Momentum & Low Volatility ETF during the first quarter worth approximately $342,000. Royal Bank of Canada lifted its stake in First Trust Dorsey Wright Momentum & Low Volatility ETF by 358,931.6% during the fourth quarter. Royal Bank of Canada now owns 68,216 shares of the company’s stock worth $2,390,000 after purchasing an additional 68,197 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF during the 4th quarter worth approximately $111,000.

First Trust Dorsey Wright Momentum & Low Volatility ETF Price Performance

Shares of NASDAQ DVOL traded up $0.28 during midday trading on Wednesday, hitting $36.32. The company’s stock had a trading volume of 609 shares, compared to its average volume of 11,088. The business’s fifty day simple moving average is $36.11 and its two-hundred day simple moving average is $35.78. First Trust Dorsey Wright Momentum & Low Volatility ETF has a 1 year low of $33.60 and a 1 year high of $37.50. The firm has a market capitalization of $72.64 million, a price-to-earnings ratio of 24.91 and a beta of 0.76.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

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

First Trust Dorsey Wright Momentum & Low Volatility ETF Company Profile

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.