Kovack Advisors Inc. Trims Holdings in First Trust Senior Loan ETF (NASDAQ:FTSL)

Kovack Advisors Inc. lessened its stake in First Trust Senior Loan ETF (NASDAQ:FTSL) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,650 shares of the company’s stock after selling 3,017 shares during the period. Kovack Advisors Inc. owned about 0.13% of First Trust Senior Loan ETF worth $2,875,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in shares of First Trust Senior Loan ETF in the 2nd quarter worth about $27,000. Farmers & Merchants Investments Inc. bought a new stake in First Trust Senior Loan ETF in the second quarter valued at about $46,000. Trust Co. of Vermont acquired a new stake in First Trust Senior Loan ETF during the third quarter valued at approximately $81,000. Consultiva Wealth Management CORP. bought a new position in First Trust Senior Loan ETF during the 1st quarter worth approximately $100,000. Finally, Register Financial Advisors LLC acquired a new position in shares of First Trust Senior Loan ETF in the 2nd quarter worth approximately $115,000.

First Trust Senior Loan ETF Price Performance

Shares of NASDAQ FTSL traded up $0.02 during trading on Wednesday, reaching $46.38. The stock had a trading volume of 52,893 shares, compared to its average volume of 284,025. First Trust Senior Loan ETF has a one year low of $45.01 and a one year high of $46.99. The firm’s 50 day moving average price is $46.09 and its two-hundred day moving average price is $46.03.

First Trust Senior Loan ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 7.50%.

About First Trust Senior Loan ETF

The First Trust Senior Loan Fund (FTSL) is an exchange-traded fund that is based on the S&P\u002FLSTA U.S. Leveraged Loan 100 index. The fund holds senior floating rate bank loans from firms around the globe. The actively managed fund can hold up to 20% of assets in non-senior loans, including high-yield bonds and equities.