First Trust High Income Long/Short Fund (NYSE:FSD) Sees Significant Growth in Short Interest

First Trust High Income Long/Short Fund (NYSE:FSD) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 91,100 shares, a growth of 71.6% from the May 31st total of 53,100 shares. Based on an average trading volume of 102,900 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On First Trust High Income Long/Short Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSD. Pinnacle Wealth Planning Services Inc. increased its stake in shares of First Trust High Income Long/Short Fund by 7.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 13,679 shares of the company’s stock valued at $163,000 after purchasing an additional 993 shares during the period. Sowell Financial Services LLC raised its holdings in shares of First Trust High Income Long/Short Fund by 1.8% during the 4th quarter. Sowell Financial Services LLC now owns 72,700 shares of the company’s stock valued at $879,000 after purchasing an additional 1,300 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of First Trust High Income Long/Short Fund by 7.1% during the 4th quarter. Founders Financial Alliance LLC now owns 20,043 shares of the company’s stock valued at $242,000 after purchasing an additional 1,323 shares in the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of First Trust High Income Long/Short Fund by 13.7% during the 1st quarter. High Net Worth Advisory Group LLC now owns 18,444 shares of the company’s stock valued at $220,000 after purchasing an additional 2,216 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in First Trust High Income Long/Short Fund by 5.3% in the 4th quarter. D.A. Davidson & CO. now owns 66,840 shares of the company’s stock worth $808,000 after acquiring an additional 3,345 shares during the period.

First Trust High Income Long/Short Fund Trading Up 1.1 %

Shares of FSD stock traded up $0.13 on Friday, reaching $12.34. 220,664 shares of the stock were exchanged, compared to its average volume of 105,798. The firm has a 50 day moving average of $11.92 and a two-hundred day moving average of $11.79. First Trust High Income Long/Short Fund has a 1-year low of $10.20 and a 1-year high of $12.38.

First Trust High Income Long/Short Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.105 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.26 annualized dividend and a yield of 10.21%.

First Trust High Income Long/Short Fund Company Profile

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.