First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) Short Interest Update

First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 383,551 shares, an increase of 48.8% from the February 12th total of 257,685 shares. Based on an average daily volume of 1,017,769 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 1,017,769 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. LPL Financial LLC grew its stake in shares of First Trust Morningstar Dividend Leaders Index Fund by 1.7% during the 4th quarter. LPL Financial LLC now owns 12,408,286 shares of the exchange traded fund’s stock valued at $550,183,000 after acquiring an additional 202,537 shares during the period. Morgan Stanley raised its stake in First Trust Morningstar Dividend Leaders Index Fund by 9.9% during the 4th quarter. Morgan Stanley now owns 8,670,709 shares of the exchange traded fund’s stock worth $384,459,000 after acquiring an additional 778,170 shares during the period. Raymond James Financial Inc. lifted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 15.2% during the fourth quarter. Raymond James Financial Inc. now owns 5,197,530 shares of the exchange traded fund’s stock valued at $230,458,000 after purchasing an additional 686,116 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in First Trust Morningstar Dividend Leaders Index Fund by 2.2% during the third quarter. Ameriprise Financial Inc. now owns 3,998,214 shares of the exchange traded fund’s stock valued at $173,422,000 after purchasing an additional 87,037 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of First Trust Morningstar Dividend Leaders Index Fund by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,229,897 shares of the exchange traded fund’s stock worth $143,214,000 after purchasing an additional 73,182 shares during the period.

First Trust Morningstar Dividend Leaders Index Fund Stock Performance

NYSEARCA FDL opened at $49.96 on Monday. The company has a market capitalization of $6.94 billion, a PE ratio of 13.96 and a beta of 0.73. The business’s fifty day moving average is $48.63 and its 200 day moving average is $45.40. First Trust Morningstar Dividend Leaders Index Fund has a fifty-two week low of $37.29 and a fifty-two week high of $51.46.

About First Trust Morningstar Dividend Leaders Index Fund

First Trust Morningstar Dividend Leaders Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the Morningstar Dividend Leaders Index (the Index). The Fund will invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the Index. The objective of the Index is to offer investors a benchmark for dividend portfolios, as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends, as well as the ability to sustain them.