Short Interest in First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) Declines By 73.1%

First Trust S&P 500 Diversified Dividend Aristocrats ETF (NASDAQ:KNGZ) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,200 shares, a drop of 73.1% from the October 31st total of 11,900 shares. Based on an average daily volume of 6,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF during the third quarter valued at approximately $111,000. Woodmont Investment Counsel LLC purchased a new position in First Trust S&P 500 Diversified Dividend Aristocrats ETF during the 3rd quarter valued at $372,000. NBC Securities Inc. grew its position in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 1,138.7% in the 3rd quarter. NBC Securities Inc. now owns 11,768 shares of the company’s stock valued at $404,000 after acquiring an additional 10,818 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in First Trust S&P 500 Diversified Dividend Aristocrats ETF by 2.0% in the second quarter. Nations Financial Group Inc. IA ADV now owns 17,543 shares of the company’s stock worth $551,000 after purchasing an additional 350 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of First Trust S&P 500 Diversified Dividend Aristocrats ETF by 27.2% during the third quarter. D.A. Davidson & CO. now owns 33,918 shares of the company’s stock worth $1,166,000 after purchasing an additional 7,258 shares during the last quarter.

First Trust S&P 500 Diversified Dividend Aristocrats ETF Stock Performance

KNGZ stock traded down $0.20 during midday trading on Wednesday, reaching $34.86. 518 shares of the company traded hands, compared to its average volume of 5,564. The firm has a market capitalization of $41.84 million, a price-to-earnings ratio of 15.51 and a beta of 0.83. First Trust S&P 500 Diversified Dividend Aristocrats ETF has a 52-week low of $27.99 and a 52-week high of $35.34. The business has a 50 day moving average of $34.22 and a 200-day moving average of $32.90.

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

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.203 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.81 dividend on an annualized basis and a yield of 2.33%.

About First Trust S&P 500 Diversified Dividend Aristocrats ETF

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.