First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO) Share Price Passes Below 200 Day Moving Average – Here’s Why

First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.76 and traded as low as $20.72. First Trust Structured Credit Income Opportunities ETF shares last traded at $20.78, with a volume of 96,868 shares.

First Trust Structured Credit Income Opportunities ETF Stock Performance

The stock’s fifty day simple moving average is $20.80 and its 200-day simple moving average is $20.76. The stock has a market cap of $69.61 million, a P/E ratio of -274.44 and a beta of 0.08.

Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF

A number of hedge funds have recently added to or reduced their stakes in SCIO. Strategic Planning Group LLC bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the 3rd quarter valued at $15,232,000. Foundations Investment Advisors LLC acquired a new position in First Trust Structured Credit Income Opportunities ETF in the third quarter valued at about $4,045,000. Delta Investment Management LLC bought a new stake in First Trust Structured Credit Income Opportunities ETF during the third quarter worth about $3,565,000. Philip James Wealth Mangement LLC acquired a new stake in First Trust Structured Credit Income Opportunities ETF during the third quarter worth about $3,084,000. Finally, Atria Investments Inc bought a new position in First Trust Structured Credit Income Opportunities ETF in the 3rd quarter valued at about $1,697,000. Institutional investors own 0.83% of the company’s stock.

First Trust Structured Credit Income Opportunities ETF Company Profile

First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO) is an actively managed exchange-traded fund designed to provide investors with exposure to structured credit markets. The fund is sponsored by First Trust Advisors L.P., a subsidiary of First Trust Portfolios L.P., and seeks to generate attractive risk-adjusted income through investments in collateralized loan obligations (CLOs) and other structured credit instruments.

The ETF primarily allocates capital to senior secured and investment-grade tranches of CLOs, aiming to benefit from the floating-rate nature of underlying corporate loans and the structural credit enhancements within CLO vehicles.