First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Short Interest Up 82.4% in July

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 77,700 shares, a growth of 82.4% from the June 30th total of 42,600 shares. Based on an average trading volume of 127,300 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in First Trust NASDAQ BuyWrite Income ETF by 124.9% during the fourth quarter. CWM LLC now owns 22,724 shares of the company’s stock worth $450,000 after buying an additional 12,618 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in First Trust NASDAQ BuyWrite Income ETF by 64.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 18,584 shares of the company’s stock worth $368,000 after buying an additional 7,274 shares in the last quarter. Significant Wealth Partners LLC acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the fourth quarter worth about $2,104,000. Truist Financial Corp acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the fourth quarter worth about $435,000. Finally, Avantax Advisory Services Inc. acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the fourth quarter worth about $263,000.

First Trust NASDAQ BuyWrite Income ETF Price Performance

Shares of First Trust NASDAQ BuyWrite Income ETF stock traded up $0.23 during midday trading on Friday, hitting $19.97. The company had a trading volume of 179,259 shares, compared to its average volume of 127,889. First Trust NASDAQ BuyWrite Income ETF has a 1-year low of $18.15 and a 1-year high of $20.93. The business’s 50 day simple moving average is $20.44 and its two-hundred day simple moving average is $20.30. The stock has a market cap of $381.43 million, a PE ratio of 29.15 and a beta of 0.52.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd will be given a $0.203 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $2.44 annualized dividend and a yield of 12.20%.

First Trust NASDAQ BuyWrite Income ETF Company Profile

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.