Short Interest in First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Expands By 392.4%

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 43,373 shares, a growth of 392.4% from the July 15th total of 8,809 shares. Based on an average daily volume of 150,112 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Long Duration Opportunities ETF Stock Performance

First Trust Long Duration Opportunities ETF stock traded down $0.06 during midday trading on Friday, reaching $20.95. 29,686 shares of the company’s stock were exchanged, compared to its average volume of 194,237. The stock’s 50-day simple moving average is $21.21 and its 200 day simple moving average is $21.54. The firm has a market cap of $620.12 million, a price-to-earnings ratio of -10,991.61 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a 52 week low of $20.45 and a 52 week high of $23.59.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new position in First Trust Long Duration Opportunities ETF during the second quarter worth $5,462,000. Dynamic Advisor Solutions LLC bought a new stake in shares of First Trust Long Duration Opportunities ETF during the 2nd quarter worth about $506,000. Western Wealth Management LLC grew its stake in First Trust Long Duration Opportunities ETF by 4.1% in the 1st quarter. Western Wealth Management LLC now owns 31,366 shares of the company’s stock valued at $677,000 after buying an additional 1,230 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in First Trust Long Duration Opportunities ETF by 36.2% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 14,584 shares of the company’s stock valued at $315,000 after buying an additional 3,874 shares during the last quarter. Finally, IFS Group LLC bought a new position in First Trust Long Duration Opportunities ETF in the 1st quarter valued at about $517,000. 0.03% of the stock is owned by institutional investors and hedge funds.

First Trust Long Duration Opportunities ETF Company Profile

The First Trust Long Duration Opportunities ETF (LGOV) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund holds an actively managed portfolio of US government bonds with an average duration of eight or more years. The fund seeks current income with a focus on capital preservation. LGOV was launched on Jan 22, 2019 and is managed by First Trust.