First Trust High Income Long/Short Fund (NYSE:FSD) Short Interest Update

First Trust High Income Long/Short Fund (NYSE:FSDGet Rating) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 22,900 shares, a drop of 61.7% from the May 31st total of 59,800 shares. Based on an average daily volume of 103,600 shares, the days-to-cover ratio is currently 0.2 days.

A number of hedge funds have recently added to or reduced their stakes in FSD. Advisor Resource Council acquired a new position in shares of First Trust High Income Long/Short Fund in the 4th quarter valued at $326,000. Raymond James & Associates increased its holdings in shares of First Trust High Income Long/Short Fund by 2.2% in the 4th quarter. Raymond James & Associates now owns 186,958 shares of the company’s stock valued at $2,915,000 after acquiring an additional 3,972 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of First Trust High Income Long/Short Fund by 41.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,970 shares of the company’s stock valued at $343,000 after acquiring an additional 6,402 shares during the period. Fiera Capital Corp increased its holdings in shares of First Trust High Income Long/Short Fund by 2.8% in the 4th quarter. Fiera Capital Corp now owns 26,439 shares of the company’s stock valued at $412,000 after acquiring an additional 725 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of First Trust High Income Long/Short Fund by 71.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,070 shares of the company’s stock valued at $328,000 after acquiring an additional 8,766 shares during the period.

FSD stock traded up $0.09 during midday trading on Friday, reaching $11.39. 145,143 shares of the company were exchanged, compared to its average volume of 123,888. First Trust High Income Long/Short Fund has a 1-year low of $11.19 and a 1-year high of $16.16. The stock’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $13.42.

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 15th. Shareholders of record on Tuesday, July 5th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Friday, July 1st. This represents a $1.26 dividend on an annualized basis and a yield of 11.06%.

About First Trust High Income Long/Short Fund (Get Rating)

First Trust High Income Long/Short Fund is a closed-ended fixed-income mutual fund launched and managed by First Trust Advisors, L.P. It is co-managed by MacKay Shields LLC. The fund invests in fixed-income markets across the globe. It primarily invests in high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade, including corporate bonds, debentures, notes, and commercial papers.

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