Short Interest in First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Drops By 85.7%

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 9,361 shares, a drop of 85.7% from the May 31st total of 65,523 shares. Based on an average daily volume of 189,254 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

First Trust Long Duration Opportunities ETF Stock Up 0.3%

LGOV traded up $0.07 during trading on Friday, hitting $21.61. The company’s stock had a trading volume of 234,406 shares, compared to its average volume of 194,953. The stock has a market capitalization of $667.75 million, a price-to-earnings ratio of -11,337.88 and a beta of 0.34. The firm’s 50 day moving average price is $21.45 and its two-hundred day moving average price is $21.72. First Trust Long Duration Opportunities ETF has a 12 month low of $20.45 and a 12 month high of $23.59.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LGOV. LPL Financial LLC grew its holdings in First Trust Long Duration Opportunities ETF by 11.5% during the 4th quarter. LPL Financial LLC now owns 3,889,011 shares of the company’s stock worth $84,897,000 after acquiring an additional 401,560 shares during the last quarter. Royal Bank of Canada lifted its position in shares of First Trust Long Duration Opportunities ETF by 8.8% during 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. Raymond James Financial Inc. grew its stake in shares of First Trust Long Duration Opportunities ETF by 36.5% during the second quarter. Raymond James Financial Inc. now owns 1,708,012 shares of the company’s stock valued at $36,586,000 after purchasing an additional 456,623 shares during the last quarter. Csenge Advisory Group grew its stake in shares of First Trust Long Duration Opportunities ETF by 6.2% during the fourth quarter. Csenge Advisory Group now owns 974,216 shares of the company’s stock valued at $21,267,000 after purchasing an additional 56,704 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of First Trust Long Duration Opportunities ETF by 29.7% in the first quarter. Stephens Inc. AR now owns 870,712 shares of the company’s stock valued at $18,781,000 after purchasing an additional 199,341 shares in the last quarter. 0.03% of the stock is owned by institutional investors.

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.