First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Stock Short Interest Climbs 167.0%

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 65,212 shares, an increase of 167.0% from the September 30th total of 24,421 shares. Based on an average daily volume of 272,057 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCIO. NewEdge Advisors LLC acquired a new position in First Trust Structured Credit Income Opportunities ETF in the 1st quarter valued at approximately $528,000. Dynamic Advisor Solutions LLC boosted its stake in First Trust Structured Credit Income Opportunities ETF by 56.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 124,433 shares of the company’s stock worth $2,572,000 after acquiring an additional 44,965 shares in the last quarter. Arkadios Wealth Advisors raised its position in First Trust Structured Credit Income Opportunities ETF by 497.3% in the first quarter. Arkadios Wealth Advisors now owns 82,263 shares of the company’s stock worth $1,698,000 after acquiring an additional 68,491 shares during the period. CoreCap Advisors LLC bought a new stake in First Trust Structured Credit Income Opportunities ETF in the 2nd quarter worth approximately $3,036,000. Finally, First Heartland Consultants Inc. bought a new position in First Trust Structured Credit Income Opportunities ETF in the third quarter worth approximately $7,337,000. Institutional investors own 0.83% of the company’s stock.

First Trust Structured Credit Income Opportunities ETF Stock Performance

NYSEARCA SCIO traded up $0.05 on Friday, reaching $20.16. The stock had a trading volume of 192,165 shares, compared to its average volume of 233,163. The business’s 50-day moving average price is $20.20 and its 200 day moving average price is $20.58. The stock has a market cap of $549.36 million, a P/E ratio of -266.25 and a beta of 0.09. First Trust Structured Credit Income Opportunities ETF has a 12-month low of $19.89 and a 12-month high of $21.69.

About First Trust Structured Credit Income Opportunities ETF

The First Trust Structured Credit Income Opportunities ETF (SCIO) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed, seeking to maximize long-term income by holding intermediate-term structured credit investments such as RMBS, CMBS, CLOs, and ABS. Securities are of any credit quality. SCIO was launched on Feb 27, 2024 and is issued by First Trust.