First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) Reaches New 1-Year Low – Should You Sell?

First Trust Enhanced Short Maturity ETF (NASDAQ:FTSM) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $59.67 and last traded at $59.67, with a volume of 745085 shares changing hands. The stock had previously closed at $59.68.

First Trust Enhanced Short Maturity ETF Trading Up 0.1%

The company has a fifty day moving average price of $59.80 and a 200 day moving average price of $59.84.

First Trust Enhanced Short Maturity ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 31st were given a dividend of $0.204 per share. The ex-dividend date was Monday, August 31st. This represents a c) annualized dividend and a yield of 4.1%.

Hedge Funds Weigh In On First Trust Enhanced Short Maturity ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BDFS Capital LLC purchased a new position in shares of First Trust Enhanced Short Maturity ETF in the fourth quarter worth $63,291,000. Gradient Investments LLC boosted its position in First Trust Enhanced Short Maturity ETF by 10.7% during the 2nd quarter. Gradient Investments LLC now owns 733,976 shares of the company’s stock valued at $43,840,000 after buying an additional 71,051 shares during the period. &PARTNERS boosted its position in First Trust Enhanced Short Maturity ETF by 60.2% during the 4th quarter. &PARTNERS now owns 587,006 shares of the company’s stock valued at $35,147,000 after buying an additional 220,685 shares during the period. Kingsview Wealth Management LLC grew its holdings in First Trust Enhanced Short Maturity ETF by 14.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 441,535 shares of the company’s stock worth $26,461,000 after acquiring an additional 55,455 shares during the last quarter. Finally, Kirkwood Financial Services bought a new stake in First Trust Enhanced Short Maturity ETF in the 2nd quarter worth $26,070,000.

About First Trust Enhanced Short Maturity ETF

The First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund that is based on the Bloomberg U.S. Short Treasury Bond index. The fund is actively-managed to invest in a variety of fixed income securities with a target maturity of less than three years. FTSM was launched on Aug 5, 2014 and is managed by First Trust.