First Trust Senior Loan ETF (NASDAQ:FTSL) Hits New 1-Year Low – Time to Sell?

First Trust Senior Loan ETF (NASDAQ:FTSL) shares hit a new 52-week low on Wednesday. The stock traded as low as $44.34 and last traded at $44.36, with a volume of 8,390 shares trading hands. The stock had previously closed at $44.57.

First Trust Senior Loan ETF Stock Down 0.5%

The firm has a fifty day moving average of $44.80 and a 200-day moving average of $44.90.

First Trust Senior Loan ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st will be issued a $0.2250 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in shares of First Trust Senior Loan ETF by 15.7% during the 1st quarter. First Trust Advisors LP now owns 1,274,813 shares of the company’s stock valued at $57,097,000 after buying an additional 173,354 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of First Trust Senior Loan ETF by 5.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 884,010 shares of the company’s stock worth $39,559,000 after buying an additional 47,005 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of First Trust Senior Loan ETF by 107.3% during the second quarter. Concurrent Investment Advisors LLC now owns 593,455 shares of the company’s stock valued at $26,557,000 after purchasing an additional 307,204 shares during the last quarter. TL Private Wealth boosted its stake in First Trust Senior Loan ETF by 7.7% in the 2nd quarter. TL Private Wealth now owns 579,910 shares of the company’s stock worth $25,974,000 after purchasing an additional 41,544 shares during the period. Finally, Cyndeo Wealth Partners LLC boosted its position in shares of First Trust Senior Loan ETF by 6.5% during the third quarter. Cyndeo Wealth Partners LLC now owns 499,972 shares of the company’s stock valued at $22,284,000 after buying an additional 30,646 shares during the period.

About First Trust Senior Loan ETF

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities. FTSL was launched on May 1, 2013 and is managed by First Trust.