Significant Rise in Short Interest for First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC)

The First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC - Get Free Report) experienced a dramatic rise in short interest during December. As of December 15th, the fund reported a short interest of 76,900 shares, reflecting a substantial increase of 324.9% from the 18,100 shares recorded on November 30th. With an average daily trading volume of 351,700 shares, the days-to-cover ratio stands at 0.2 days, indicating a relatively quick covering period for short positions.

Current Trading Performance of FTGC

On Thursday, FTGC saw a slight decline of 0.3%, trading down by $0.08 to reach $23.61 during midday sessions. The stock's trading volume reached 792,945 shares, which is significantly above its average volume of 495,105 shares. The fund's 50-day simple moving average is currently at $23.61, while its 200-day moving average sits at $23.51. Over the past year, FTGC has recorded a low of $22.03 and a high of $24.98.

Dividend Announcement from FTGC

Additionally, the First Trust Global Tactical Commodity Strategy Fund has announced a dividend that is scheduled for payment on Tuesday, December 31st. Shareholders of record as of Tuesday, December 17th will receive a dividend of $0.1846 per share, with the ex-dividend date being the same day.

Changes in Institutional Investor Holdings

Several institutional investors have recently adjusted their positions in FTGC. Notably, US Bancorp DE increased its holdings by 84.5% during the third quarter, now owning 1,118 shares valued at around $26,000 after acquiring an additional 512 shares. Similarly, Brown Brothers Harriman & Co. raised its stake by 301.0%, holding 1,600 shares worth approximately $38,000 after purchasing 1,201 additional shares. Zions Bancorporation N.A. took a new position valued at about $43,000 in the second quarter. Values First Advisors Inc. also acquired a new stake worth around $46,000 in the third quarter. Strategic Financial Concepts LLC significantly boosted its holdings in the second quarter, now owning 211,182 shares valued at approximately $50,000 after adding 162,773 shares to its position.

Overview of First Trust Global Tactical Commodity Strategy Fund

The First Trust Global Tactical Commodity Strategy Fund (FTGC) operates as an exchange-traded fund (ETF), based on its own benchmark index. This actively managed fund provides investors with broad exposure to commodities through futures contracts. It is structured as a 1940 Act open-ended fund.

Investment Considerations for FTGC

Before deciding to invest in the First Trust Global Tactical Commodity Strategy Fund, potential investors may want to consider the stock's current market positioning and the sentiment surrounding its performance. Analysts currently assign a “Hold” rating for FTGC, suggesting that there are potentially more favorable investment opportunities in the market.

investment, stocks, dividends