First Trust Intermediate Duration Investment Grade Corporate ETF (NYSEARCA:FIIG) Sees Significant Increase in Short Interest

First Trust Intermediate Duration Investment Grade Corporate ETF (NYSEARCA:FIIG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 26,889 shares, a growth of 198.8% from the May 31st total of 8,999 shares. Based on an average trading volume of 125,202 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of First Trust Intermediate Duration Investment Grade Corporate ETF by 362.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,097,756 shares of the company’s stock worth $44,472,000 after buying an additional 1,644,507 shares in the last quarter. LPL Financial LLC lifted its stake in shares of First Trust Intermediate Duration Investment Grade Corporate ETF by 16.0% in the fourth quarter. LPL Financial LLC now owns 4,410,462 shares of the company’s stock worth $93,502,000 after buying an additional 609,714 shares in the last quarter. Manchester Financial Inc. lifted its stake in shares of First Trust Intermediate Duration Investment Grade Corporate ETF by 64.0% in the fourth quarter. Manchester Financial Inc. now owns 957,492 shares of the company’s stock worth $20,299,000 after buying an additional 373,627 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in First Trust Intermediate Duration Investment Grade Corporate ETF by 114.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 670,866 shares of the company’s stock worth $14,222,000 after acquiring an additional 358,716 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in First Trust Intermediate Duration Investment Grade Corporate ETF by 80.4% during the first quarter. Stephens Inc. AR now owns 761,660 shares of the company’s stock worth $15,804,000 after acquiring an additional 339,533 shares during the last quarter.

First Trust Intermediate Duration Investment Grade Corporate ETF Stock Performance

Shares of NYSEARCA FIIG traded up $0.02 during midday trading on Friday, hitting $20.77. The stock had a trading volume of 640,084 shares, compared to its average volume of 203,843. The stock has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $20.95. First Trust Intermediate Duration Investment Grade Corporate ETF has a 1 year low of $20.43 and a 1 year high of $21.49.

About First Trust Intermediate Duration Investment Grade Corporate ETF

The First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed, investing in a broad portfolio of US investment grade, corporate debt securities. The portfolio aims for a dollar-weighted average maturity between three and ten years FIIG was launched on Aug 2, 2023 and is issued by First Trust.