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

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) was the recipient of a significant growth in short interest in 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 daily trading volume, of 127,300 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Fifth Third Securities Inc. bought a new position in shares of First Trust NASDAQ BuyWrite Income ETF during the second quarter valued at about $3,814,000. Significant Wealth Partners LLC bought a new stake in First Trust NASDAQ BuyWrite Income ETF in the fourth quarter worth about $2,104,000. Cetera Investment Advisers raised its position in First Trust NASDAQ BuyWrite Income ETF by 357.6% in the first quarter. Cetera Investment Advisers now owns 98,956 shares of the company’s stock worth $2,033,000 after acquiring an additional 77,330 shares during the period. Cetera Advisors LLC bought a new stake in First Trust NASDAQ BuyWrite Income ETF in the first quarter worth about $1,465,000. Finally, Avantax Advisory Services Inc. raised its position in First Trust NASDAQ BuyWrite Income ETF by 330.3% in the first quarter. Avantax Advisory Services Inc. now owns 57,157 shares of the company’s stock worth $1,174,000 after acquiring an additional 43,875 shares during the period.

First Trust NASDAQ BuyWrite Income ETF Stock Performance

Shares of First Trust NASDAQ BuyWrite Income ETF stock traded up $0.23 during trading hours on Friday, reaching $19.97. The company’s stock had a trading volume of 179,259 shares, compared to its average volume of 127,889. First Trust NASDAQ BuyWrite Income ETF has a one year low of $18.15 and a one year high of $20.93. The company has a market capitalization of $384.42 million, a P/E ratio of 29.15 and a beta of 0.52. The stock’s fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $20.31.

First Trust NASDAQ BuyWrite Income ETF Cuts Dividend

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

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.