Short Interest in First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Drops By 49.1%

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 82,998 shares, a decline of 49.1% from the April 30th total of 162,940 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 127,863 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of First Trust Long Duration Opportunities ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Western Wealth Management LLC raised its holdings in shares of First Trust Long Duration Opportunities ETF by 4.1% in the first quarter. Western Wealth Management LLC now owns 31,366 shares of the company’s stock valued at $677,000 after acquiring an additional 1,230 shares in the last quarter. IFS Group LLC bought a new position in First Trust Long Duration Opportunities ETF in the first quarter worth about $517,000. Royal Bank of Canada raised its holdings in First Trust Long Duration Opportunities ETF by 8.8% in the first quarter. Royal Bank of Canada now owns 2,020,458 shares of the company’s stock worth $43,581,000 after purchasing an additional 164,213 shares in the last quarter. Gateway Wealth Partners LLC raised its holdings in First Trust Long Duration Opportunities ETF by 134.0% in the first quarter. Gateway Wealth Partners LLC now owns 33,260 shares of the company’s stock worth $717,000 after purchasing an additional 19,048 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in First Trust Long Duration Opportunities ETF by 37.2% in the first quarter. Cetera Investment Advisers now owns 767,082 shares of the company’s stock worth $16,546,000 after purchasing an additional 207,997 shares in the last quarter. 0.03% of the stock is currently owned by institutional investors.

First Trust Long Duration Opportunities ETF Stock Down 0.6%

Shares of LGOV stock traded down $0.12 on Monday, hitting $21.38. The stock had a trading volume of 104,231 shares, compared to its average volume of 193,694. The business has a 50 day moving average price of $21.51 and a 200 day moving average price of $21.80. The company has a market cap of $660.64 million, a PE ratio of -11,217.21 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a one year low of $20.45 and a one year high of $23.59.

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.