Short Interest in First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Expands By 1,012.7%

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 2,257,854 shares, an increase of 1,012.7% from the April 30th total of 202,908 shares. Based on an average daily trading volume, of 948,627 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 4.4% in the third quarter. Axxcess Wealth Management LLC now owns 276,608 shares of the company’s stock valued at $7,164,000 after purchasing an additional 11,615 shares during the period. Choice Wealth Advisors LLC boosted its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 1.9% in the third quarter. Choice Wealth Advisors LLC now owns 289,338 shares of the company’s stock valued at $7,494,000 after purchasing an additional 5,294 shares during the period. CENTRAL TRUST Co acquired a new stake in First Trust Global Tactical Commodity Strategy Fund in the third quarter valued at $26,000. Aspect Partners LLC raised its holdings in First Trust Global Tactical Commodity Strategy Fund by 19.9% in the third quarter. Aspect Partners LLC now owns 24,131 shares of the company’s stock valued at $625,000 after acquiring an additional 4,009 shares in the last quarter. Finally, LexAurum Advisors LLC raised its holdings in First Trust Global Tactical Commodity Strategy Fund by 11.5% in the third quarter. LexAurum Advisors LLC now owns 334,080 shares of the company’s stock valued at $8,653,000 after acquiring an additional 34,543 shares in the last quarter.

First Trust Global Tactical Commodity Strategy Fund Price Performance

FTGC traded down $0.19 during trading on Friday, hitting $29.07. 628,120 shares of the company’s stock were exchanged, compared to its average volume of 768,153. First Trust Global Tactical Commodity Strategy Fund has a 1 year low of $22.70 and a 1 year high of $30.65. The stock has a 50 day moving average price of $29.05 and a 200 day moving average price of $26.75.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a dividend of $0.4093 per share. This represents a $1.64 annualized dividend and a yield of 5.6%. The ex-dividend date was Thursday, March 26th.

First Trust Global Tactical Commodity Strategy Fund Company Profile

The First Trust Global Tactical Commodity Strategy Fund (FTGC) is an exchange-traded fund that is based on the Benchmark for FTGC Fund index. The fund is an actively managed fund that, through a subsidiary, provides broad exposure to commodities through futures contracts. The fund is structured as a 1940 Act open-ended fund. FTGC was launched on Oct 23, 2013 and is managed by First Trust.