Short Interest in First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) Drops By 69.6%

First Trust Dorsey Wright Momentum & Low Volatility ETF (NASDAQ:DVOL) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 546 shares, a decline of 69.6% from the April 30th total of 1,797 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 9,538 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Dorsey Wright Momentum & Low Volatility ETF Stock Performance

Shares of First Trust Dorsey Wright Momentum & Low Volatility ETF stock traded down $0.33 during midday trading on Friday, hitting $35.72. 38,782 shares of the company traded hands, compared to its average volume of 11,588. The stock has a market cap of $71.44 million, a price-to-earnings ratio of 24.91 and a beta of 0.78. The firm’s fifty day moving average price is $35.93 and its 200-day moving average price is $35.73. First Trust Dorsey Wright Momentum & Low Volatility ETF has a 12 month low of $33.60 and a 12 month high of $37.50.

First Trust Dorsey Wright Momentum & Low Volatility ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0292 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Investors Weigh In On First Trust Dorsey Wright Momentum & Low Volatility ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF in the 3rd quarter worth approximately $39,000. O Shaughnessy Asset Management LLC acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF during the 4th quarter valued at $111,000. Envestnet Asset Management Inc. acquired a new position in shares of First Trust Dorsey Wright Momentum & Low Volatility ETF during the 3rd quarter valued at $201,000. Warner Group LLC acquired a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF during the third quarter worth $346,000. Finally, Fifth Third Bancorp acquired a new position in First Trust Dorsey Wright Momentum & Low Volatility ETF during the first quarter worth $342,000.

About First Trust Dorsey Wright Momentum & Low Volatility ETF

The First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that is based on the Dorsey Wright Momentum Plus Low Vol index. The fund tracks an index of 50 large- and mid-cap, low-volatility stocks exhibiting relative strength. Holdings are weighted by the inverse of their volatility. DVOL was launched on Sep 5, 2018 and is managed by First Trust.