First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Large Decline in Short Interest

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 38,600 shares, a drop of 53.0% from the February 13th total of 82,100 shares. Based on an average daily volume of 202,700 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

First Trust NASDAQ BuyWrite Income ETF Trading Up 2.4 %

Shares of First Trust NASDAQ BuyWrite Income ETF stock traded up $0.44 during trading hours on Friday, reaching $19.16. The stock had a trading volume of 123,170 shares, compared to its average volume of 223,577. The firm has a 50 day simple moving average of $20.65 and a two-hundred day simple moving average of $20.68. The firm has a market capitalization of $512.53 million, a price-to-earnings ratio of 29.52 and a beta of 0.52. First Trust NASDAQ BuyWrite Income ETF has a 1 year low of $18.23 and a 1 year high of $21.49.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a dividend of $0.207 per share. This is an increase from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.20. This represents a $2.48 annualized dividend and a dividend yield of 12.96%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Investors Weigh In On First Trust NASDAQ BuyWrite Income ETF

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in shares of First Trust NASDAQ BuyWrite Income ETF during the 4th quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new stake in shares of First Trust NASDAQ BuyWrite Income ETF during the 4th quarter valued at about $42,000. Kestra Investment Management LLC acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the 4th quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the 4th quarter valued at approximately $50,000. Finally, IMG Wealth Management Inc. acquired a new stake in First Trust NASDAQ BuyWrite Income ETF during the 4th quarter valued at approximately $103,000.

About First Trust NASDAQ BuyWrite Income ETF

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.