First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) Sees Large Drop in Short Interest

First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 12,383 shares, a drop of 53.4% from the August 15th total of 26,573 shares. Based on an average trading volume of 3,770 shares, the short-interest ratio is currently 3.3 days. Approximately 0.8% of the company’s stock are short sold.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Stock Down 1.5%

KNGZ traded down $0.64 on Wednesday, reaching $41.54. The company’s stock had a trading volume of 3,867 shares, compared to its average volume of 6,161. The company has a market capitalization of $41.96 million, a price-to-earnings ratio of 16.58 and a beta of 0.87. First Trust S&P 500 Diversified Dividend Aristocrats ETF has a fifty-two week low of $33.67 and a fifty-two week high of $43.06. The stock has a 50 day moving average of $41.83 and a two-hundred day moving average of $39.75.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a $0.3057 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.9%. This is a boost from First Trust S&P 500 Diversified Dividend Aristocrats ETF’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Trading of First Trust S&P 500 Diversified Dividend Aristocrats ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in KNGZ. Cetera Investment Advisers increased its position in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 7.3% during the first quarter. Cetera Investment Advisers now owns 15,815 shares of the company’s stock worth $570,000 after buying an additional 1,082 shares during the period. D.A. Davidson & CO. increased its holdings in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 2.2% in the 1st quarter. D.A. Davidson & CO. now owns 61,936 shares of the company’s stock valued at $2,231,000 after acquiring an additional 1,349 shares during the period. Total Clarity Wealth Management Inc. raised its position in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 19.7% in the 1st quarter. Total Clarity Wealth Management Inc. now owns 7,094 shares of the company’s stock valued at $256,000 after purchasing an additional 1,168 shares during the last quarter. Signal Advisors Wealth LLC raised its position in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 1.3% in the 1st quarter. Signal Advisors Wealth LLC now owns 46,564 shares of the company’s stock valued at $1,677,000 after purchasing an additional 599 shares during the last quarter. Finally, 17 Capital Partners LLC boosted its stake in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 26.3% during the 4th quarter. 17 Capital Partners LLC now owns 8,836 shares of the company’s stock worth $316,000 after purchasing an additional 1,840 shares during the period.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Company Profile

The First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a sector-neutral US large-cap index selected and weighted based on dividend history and yield. KNGZ was launched on Jun 20, 2017 and is issued by First Trust.