First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Sees Large Decrease in Short Interest

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) saw a large decrease in short interest in August. As of August 14th, there was short interest totaling 2,224 shares, a decrease of 94.9% from the July 30th total of 43,373 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 187,957 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of First Trust Long Duration Opportunities ETF

A number of institutional investors and hedge funds have recently modified their holdings of LGOV. Fifth Third Bancorp acquired a new position in First Trust Long Duration Opportunities ETF in the 1st quarter valued at $25,000. International Assets Investment Management LLC bought a new position in First Trust Long Duration Opportunities ETF in the 4th quarter worth $26,000. Raleigh Capital Management Inc. lifted its position in First Trust Long Duration Opportunities ETF by 31.6% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,931 shares of the company’s stock worth $42,000 after acquiring an additional 464 shares during the last quarter. Larson Financial Group LLC lifted its position in First Trust Long Duration Opportunities ETF by 21.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,669 shares of the company’s stock worth $58,000 after acquiring an additional 469 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in First Trust Long Duration Opportunities ETF during the third quarter valued at about $61,000. 0.03% of the stock is currently owned by institutional investors and hedge funds.

First Trust Long Duration Opportunities ETF Price Performance

Shares of LGOV stock traded up $0.14 during trading on Tuesday, reaching $21.04. The company had a trading volume of 136,179 shares, compared to its average volume of 194,694. The firm’s 50 day simple moving average is $21.15 and its two-hundred day simple moving average is $21.49. First Trust Long Duration Opportunities ETF has a one year low of $20.45 and a one year high of $23.59. The company has a market capitalization of $622.78 million, a PE ratio of -11,038.82 and a beta of 0.34.

About First Trust Long Duration Opportunities ETF

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.