Short Interest in First Trust Income Opportunities ETF (NASDAQ:FCEF) Decreases By 22.4%

First Trust Income Opportunities ETF (NASDAQ:FCEF) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 18,596 shares, a drop of 22.4% from the November 30th total of 23,953 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 13,372 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 13,372 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.7% of the company’s stock are short sold.

First Trust Income Opportunities ETF Stock Up 0.3%

FCEF traded up $0.07 during midday trading on Tuesday, hitting $22.98. 2,799 shares of the company traded hands, compared to its average volume of 11,213. The firm has a market capitalization of $63.42 million, a PE ratio of 19.88 and a beta of 0.85. The company’s 50-day moving average is $22.76 and its 200 day moving average is $22.65. First Trust Income Opportunities ETF has a 52 week low of $18.85 and a 52 week high of $23.22.

First Trust Income Opportunities ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FCEF. GPS Wealth Strategies Group LLC raised its position in shares of First Trust Income Opportunities ETF by 449.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 2,748 shares of the company’s stock valued at $63,000 after purchasing an additional 2,248 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of First Trust Income Opportunities ETF in the second quarter valued at about $64,000. Harbour Investments Inc. boosted its stake in shares of First Trust Income Opportunities ETF by 405.2% in the second quarter. Harbour Investments Inc. now owns 3,890 shares of the company’s stock worth $87,000 after acquiring an additional 3,120 shares during the period. OLD Mission Capital LLC bought a new stake in First Trust Income Opportunities ETF during the 1st quarter valued at approximately $243,000. Finally, Envestnet Asset Management Inc. bought a new position in First Trust Income Opportunities ETF in the 2nd quarter worth approximately $256,000.

About First Trust Income Opportunities ETF

The First Trust Income Opportunity ETF (FCEF) is an exchange-traded fund that is based on the S-Network Composite Closed-End Fund index. The fund is an actively managed ETF that holds closed-end funds to get exposure to US and non-US equity, fixed income securities, and commodities. The fund’s primary objective is to provide current income. FCEF was launched on Sep 27, 2016 and is managed by First Trust.