First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Short Interest Down 68.9% in July

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 72,426 shares, a drop of 68.9% from the June 30th total of 232,636 shares. Based on an average trading volume of 180,442 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On First Trust Structured Credit Income Opportunities ETF

Institutional investors have recently added to or reduced their stakes in the business. Ferguson Shapiro LLC acquired a new position in shares of First Trust Structured Credit Income Opportunities ETF in the 4th quarter valued at $16,197,000. Kestra Advisory Services LLC increased its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 2,317.8% in the first quarter. Kestra Advisory Services LLC now owns 568,187 shares of the company’s stock valued at $11,727,000 after purchasing an additional 544,687 shares during the period. Royal Bank of Canada purchased a new position in shares of First Trust Structured Credit Income Opportunities ETF in the first quarter worth about $8,006,000. Beaumont Financial Advisors LLC acquired a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the first quarter worth about $7,243,000. Finally, Capital Investment Counsel LLC lifted its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 305.8% during the first quarter. Capital Investment Counsel LLC now owns 455,240 shares of the company’s stock worth $9,396,000 after purchasing an additional 343,046 shares during the period. Institutional investors and hedge funds own 0.83% of the company’s stock.

First Trust Structured Credit Income Opportunities ETF Price Performance

SCIO remained flat at $20.50 on Tuesday. The company’s stock had a trading volume of 90,686 shares, compared to its average volume of 209,064. First Trust Structured Credit Income Opportunities ETF has a 52 week low of $20.40 and a 52 week high of $21.69. The stock has a market cap of $496.10 million, a PE ratio of -270.75 and a beta of 0.07. The company has a 50-day simple moving average of $20.62 and a two-hundred day simple moving average of $20.72.

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.