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

First Trust Intermediate Duration Investment Grade Corporate ETF (NYSEARCA:FIIG) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 57,442 shares, a growth of 382.0% from the August 15th total of 11,917 shares. Based on an average daily trading volume, of 186,402 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Aptus Capital Advisors LLC bought a new stake in First Trust Intermediate Duration Investment Grade Corporate ETF in the fourth quarter worth about $32,000. Advisory Services Network LLC purchased a new position in shares of First Trust Intermediate Duration Investment Grade Corporate ETF during the third quarter valued at $61,000. Roxbury Financial LLC purchased a new position in shares of First Trust Intermediate Duration Investment Grade Corporate ETF during the first quarter valued at $62,000. Evolution Wealth Management Inc. raised its position in First Trust Intermediate Duration Investment Grade Corporate ETF by 15.9% during the first quarter. Evolution Wealth Management Inc. now owns 5,085 shares of the company’s stock valued at $106,000 after buying an additional 696 shares during the period. Finally, Triumph Capital Management raised its position in First Trust Intermediate Duration Investment Grade Corporate ETF by 115.0% during the second quarter. Triumph Capital Management now owns 9,030 shares of the company’s stock valued at $187,000 after buying an additional 4,830 shares during the period.

First Trust Intermediate Duration Investment Grade Corporate ETF Price Performance

NYSEARCA FIIG traded up $0.01 on Friday, hitting $20.11. The stock had a trading volume of 129,010 shares, compared to its average volume of 189,577. First Trust Intermediate Duration Investment Grade Corporate ETF has a one year low of $20.10 and a one year high of $21.49. The company’s 50-day moving average is $20.45 and its two-hundred day moving average is $20.68.

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.