Short Interest in First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Rises By 343.1%

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 162,940 shares, a growth of 343.1% from the April 15th total of 36,772 shares. Based on an average daily trading volume, of 114,798 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Long Duration Opportunities ETF

Several hedge funds and other institutional investors have recently modified their holdings of LGOV. Fifth Third Bancorp purchased a new position in shares of First Trust Long Duration Opportunities ETF during the first quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in shares of First Trust Long Duration Opportunities ETF during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. increased its position in shares of First Trust Long Duration Opportunities ETF by 31.6% during the first quarter. Raleigh Capital Management Inc. now owns 1,931 shares of the company’s stock valued at $42,000 after buying an additional 464 shares during the period. Larson Financial Group LLC grew its holdings in First Trust Long Duration Opportunities ETF by 21.3% in the third quarter. Larson Financial Group LLC now owns 2,669 shares of the company’s stock worth $58,000 after purchasing an additional 469 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in First Trust Long Duration Opportunities ETF in the third quarter worth about $61,000. Hedge funds and other institutional investors own 0.03% of the company’s stock.

First Trust Long Duration Opportunities ETF Price Performance

Shares of NYSEARCA LGOV opened at $21.42 on Wednesday. First Trust Long Duration Opportunities ETF has a 1 year low of $20.14 and a 1 year high of $23.59. The company’s 50-day moving average is $21.69 and its 200 day moving average is $21.88. The stock has a market capitalization of $661.88 million, a P/E ratio of -11,238.20 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.