First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) Sees Significant Growth in Short Interest

First Trust Value Line Dividend Index Fund (NYSEARCA:FVD) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 334,492 shares, a growth of 591.1% from the May 31st total of 48,398 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 630,761 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of First Trust Value Line Dividend Index Fund

A number of institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of First Trust Value Line Dividend Index Fund by 211.6% during the 4th quarter. Signaturefd LLC now owns 592 shares of the company’s stock valued at $27,000 after acquiring an additional 402 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of First Trust Value Line Dividend Index Fund during the 4th quarter worth about $28,000. Godfrey Financial Associates Inc. purchased a new stake in First Trust Value Line Dividend Index Fund in the 4th quarter valued at about $30,000. Cullen Frost Bankers Inc. boosted its stake in First Trust Value Line Dividend Index Fund by 70.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 651 shares of the company’s stock worth $30,000 after buying an additional 270 shares during the period. Finally, Main Street Group LTD acquired a new stake in shares of First Trust Value Line Dividend Index Fund during the first quarter valued at about $39,000.

First Trust Value Line Dividend Index Fund Price Performance

FVD traded up $0.50 on Friday, reaching $48.47. 168,690 shares of the stock were exchanged, compared to its average volume of 939,544. The company’s 50-day moving average price is $47.59 and its 200 day moving average price is $47.61. The firm has a market capitalization of $8.26 billion, a PE ratio of 18.85 and a beta of 0.64. First Trust Value Line Dividend Index Fund has a fifty-two week low of $44.31 and a fifty-two week high of $50.23.

About First Trust Value Line Dividend Index Fund

First Trust Value Line Dividend Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Value Line Dividend Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to objectively identify and select those stocks from the universe of stocks, of which Value Line, Inc gives a Safety Ranking of #1 or #2 in the Value Line Safety Ranking System and have the potential to pay above-average dividends and capital appreciation.