The short interest in the First Trust Capital Strength ETF (NASDAQ: FTCS) experienced a significant increase of 109.4% in December. As of December 15, 2023, the total short interest surged to 45,712 shares, compared to 21,835 shares on November 30, 2023. Given the average daily trading volume of 540,264 shares, the days-to-cover ratio currently stands at 0.1 days, indicating that approximately 0.1% of the ETF’s stock is sold short.
In mid-day trading on Friday, FTCS shares dipped by $0.02, reaching a price of $93.63. A total of 161,503 shares changed hands, which is below the average volume of 331,060 shares. Over the past year, the ETF has recorded a low of $80.65 and a high of $94.37. The 50-day and 200-day simple moving averages are currently at $92.25 and $92.08, respectively. With a market capitalization of $8.38 billion, the ETF has a price-to-earnings (P/E) ratio of 21.51 and a beta of 0.80.
Dividend Increase Announced
The First Trust Capital Strength ETF has also announced an increase in its quarterly dividend. Investors on record as of Friday, December 12, 2023, will receive a dividend of $0.2607 on December 31, 2023. This marks an increase from the previous quarterly dividend of $0.25, representing an annualized dividend of $1.04 and a yield of 1.1%.
About First Trust Capital Strength ETF
The First Trust Capital Strength ETF, formerly known as the First Trust Strategic Value Index Fund, aims to replicate the performance of the Credit Suisse U.S. Value Index, powered by HOLT. This index is developed and maintained by Credit Suisse Securities (USA) LLC and Credit Suisse Group AG. The ETF typically invests at least 90% of its net assets in common stocks that comprise the index, providing investors with exposure to a diversified portfolio of value-oriented equities.
As market dynamics evolve, the activity surrounding the First Trust Capital Strength ETF reflects broader trends in investor sentiment and market strategy. Investors, particularly hedge funds, are closely monitoring these developments as they assess the ETF’s potential for future performance.
