First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) Short Interest Up 42,919.4% in June

First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 6,136,712 shares, an increase of 42,919.4% from the May 31st total of 14,265 shares. Based on an average daily volume of 1,401,430 shares, the days-to-cover ratio is currently 4.4 days. Approximately 6.7% of the shares of the company are short sold.

First Trust Global Tactical Commodity Strategy Fund Trading Up 1.0%

NASDAQ:FTGC opened at $27.03 on Friday. The firm’s fifty day moving average price is $28.86 and its 200 day moving average price is $26.88. First Trust Global Tactical Commodity Strategy Fund has a 1-year low of $22.70 and a 1-year high of $30.65.

First Trust Global Tactical Commodity Strategy Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be issued a $0.1691 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $0.68 annualized dividend and a dividend yield of 2.5%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in First Trust Global Tactical Commodity Strategy Fund in the first quarter valued at about $383,000. Darwin Wealth Management LLC acquired a new position in First Trust Global Tactical Commodity Strategy Fund during the 2nd quarter worth approximately $3,982,000. Bank of America Corp DE raised its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 115.1% during the 2nd quarter. Bank of America Corp DE now owns 51,984 shares of the company’s stock worth $1,282,000 after buying an additional 27,813 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of First Trust Global Tactical Commodity Strategy Fund by 211.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 101,674 shares of the company’s stock worth $2,508,000 after buying an additional 69,031 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of First Trust Global Tactical Commodity Strategy Fund by 65.8% in the 2nd quarter. MML Investors Services LLC now owns 104,850 shares of the company’s stock valued at $2,587,000 after buying an additional 41,603 shares during the period.

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.