First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) Sees Significant Growth in Short Interest

First Trust NASDAQ BuyWrite Income ETF (NASDAQ:FTQI) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 73,500 shares, a growth of 98.6% from the September 30th total of 37,000 shares. Based on an average daily trading volume, of 115,300 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On First Trust NASDAQ BuyWrite Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC increased its holdings in First Trust NASDAQ BuyWrite Income ETF by 26.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,612 shares of the company’s stock valued at $53,000 after purchasing an additional 539 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of First Trust NASDAQ BuyWrite Income ETF in the first quarter valued at $206,000. Concourse Financial Group Securities Inc. raised its holdings in shares of First Trust NASDAQ BuyWrite Income ETF by 17.6% in the 1st quarter. Concourse Financial Group Securities Inc. now owns 10,659 shares of the company’s stock valued at $219,000 after buying an additional 1,597 shares during the period. Sterling Manor Financial LLC lifted its stake in First Trust NASDAQ BuyWrite Income ETF by 8.4% during the 2nd quarter. Sterling Manor Financial LLC now owns 12,278 shares of the company’s stock worth $251,000 after acquiring an additional 956 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in First Trust NASDAQ BuyWrite Income ETF during the 2nd quarter valued at about $280,000.

First Trust NASDAQ BuyWrite Income ETF Trading Up 0.5 %

FTQI stock traded up $0.10 during midday trading on Monday, hitting $20.60. 70,220 shares of the company’s stock were exchanged, compared to its average volume of 123,289. First Trust NASDAQ BuyWrite Income ETF has a 1-year low of $18.23 and a 1-year high of $20.93. The stock has a market capitalization of $473.80 million, a PE ratio of 29.15 and a beta of 0.52. The business has a 50-day simple moving average of $20.34 and a two-hundred day simple moving average of $20.26.

First Trust NASDAQ BuyWrite Income ETF Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 22nd will be given a $0.204 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.45 dividend on an annualized basis and a yield of 11.88%. This is a boost from First Trust NASDAQ BuyWrite Income ETF’s previous monthly dividend of $0.20.

About First Trust NASDAQ BuyWrite Income ETF

The First Trust Nasdaq BuyWrite Income ETF (FTQI) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed portfolio of US stocks, with an options overlay of short calls on the Nasdaq 100. FTQI was launched on Jan 6, 2014 and is managed by First Trust.