First Trust S&P 500 Diversified Free Cash Flow ETF (NYSEARCA:FCFY) Sees Large Decline in Short Interest

First Trust S&P 500 Diversified Free Cash Flow ETF (NYSEARCA:FCFY) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 582 shares, a drop of 53.7% from the July 30th total of 1,256 shares. Based on an average daily volume of 330 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the shares of the stock are short sold.

First Trust S&P 500 Diversified Free Cash Flow ETF Stock Performance

Shares of FCFY stock traded up $0.11 on Friday, reaching $30.59. 301 shares of the company were exchanged, compared to its average volume of 447. First Trust S&P 500 Diversified Free Cash Flow ETF has a 1 year low of $24.92 and a 1 year high of $30.60. The business has a 50-day moving average price of $28.68 and a 200 day moving average price of $27.37. The company has a market cap of $1.53 million, a price-to-earnings ratio of 14.24 and a beta of 0.95.

Institutional Investors Weigh In On First Trust S&P 500 Diversified Free Cash Flow ETF

Several institutional investors have recently bought and sold shares of FCFY. Kestra Advisory Services LLC purchased a new stake in First Trust S&P 500 Diversified Free Cash Flow ETF during the 4th quarter worth approximately $26,000. Triumph Capital Management purchased a new position in shares of First Trust S&P 500 Diversified Free Cash Flow ETF in the third quarter valued at approximately $40,000. Finally, Citadel Advisors LLC lifted its position in shares of First Trust S&P 500 Diversified Free Cash Flow ETF by 18.2% in the third quarter. Citadel Advisors LLC now owns 25,525 shares of the company’s stock valued at $686,000 after acquiring an additional 3,926 shares in the last quarter.

First Trust S&P 500 Diversified Free Cash Flow ETF Company Profile

The First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) is an exchange-traded fund that is based on the S&P 500 Sector-Neutral FCF index. The fund tracks an index composed of the largest U.S. companies that are perceived to have strong free cash flow yields in comparison to other firms within the same GICS sector FCFY was launched on Aug 23, 2023 and is issued by First Trust.