Short Interest in First Trust Senior Loan ETF (NASDAQ:FTSL) Drops By 78.9%

First Trust Senior Loan ETF (NASDAQ:FTSL) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 49,500 shares, a decline of 78.9% from the May 31st total of 234,200 shares. Based on an average daily volume of 274,900 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Senior Loan ETF Stock Performance

Shares of First Trust Senior Loan ETF stock remained flat at $45.71 during midday trading on Thursday. 261,878 shares of the company traded hands, compared to its average volume of 292,363. The business has a 50 day simple moving average of $46.09 and a two-hundred day simple moving average of $46.10. First Trust Senior Loan ETF has a 12 month low of $45.01 and a 12 month high of $46.99.

First Trust Senior Loan ETF Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 27th will be issued a dividend of $0.2875 per share. The ex-dividend date is Thursday, June 27th.

Institutional Investors Weigh In On First Trust Senior Loan ETF

A number of institutional investors have recently added to or reduced their stakes in FTSL. Flagstar Advisors Inc. boosted its stake in shares of First Trust Senior Loan ETF by 361.2% in the 4th quarter. Flagstar Advisors Inc. now owns 61,938 shares of the company’s stock valued at $2,854,000 after purchasing an additional 48,508 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of First Trust Senior Loan ETF during the 4th quarter valued at $522,000. Axxcess Wealth Management LLC lifted its position in shares of First Trust Senior Loan ETF by 8.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 153,025 shares of the company’s stock valued at $7,050,000 after acquiring an additional 12,203 shares during the period. PCG Wealth Advisors LLC lifted its position in shares of First Trust Senior Loan ETF by 5.9% during the 4th quarter. PCG Wealth Advisors LLC now owns 33,610 shares of the company’s stock valued at $1,548,000 after acquiring an additional 1,874 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in shares of First Trust Senior Loan ETF by 54.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 75,493 shares of the company’s stock valued at $3,478,000 after acquiring an additional 26,692 shares during the period.

About First Trust Senior Loan ETF

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.