First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Short Interest Up 392.4% in July

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 43,373 shares, a growth of 392.4% from the July 15th total of 8,809 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 150,112 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Long Duration Opportunities ETF Price Performance

Shares of LGOV stock traded up $0.11 during mid-day trading on Thursday, hitting $21.01. The company had a trading volume of 413,715 shares, compared to its average volume of 195,366. The company has a market capitalization of $621.90 million, a P/E ratio of -11,023.08 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a 52-week low of $20.45 and a 52-week high of $23.59. The stock’s 50 day moving average price is $21.21 and its 200-day moving average price is $21.54.

Institutional Investors Weigh In On First Trust Long Duration Opportunities ETF

A number of hedge funds have recently bought and sold shares of the business. MGO One Seven LLC purchased a new position in shares of First Trust Long Duration Opportunities ETF during the fourth quarter valued at approximately $1,820,000. Concurrent Investment Advisors LLC lifted its stake in First Trust Long Duration Opportunities ETF by 1,085.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 564,951 shares of the company’s stock worth $12,333,000 after acquiring an additional 517,283 shares during the period. Stephens Inc. AR boosted its stake in shares of First Trust Long Duration Opportunities ETF by 29.7% during 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. Kingsview Wealth Management LLC boosted its position in First Trust Long Duration Opportunities ETF by 379.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 310,968 shares of the company’s stock valued at $6,788,000 after acquiring an additional 246,047 shares in the last quarter. Finally, Centennial Wealth Advisory LLC grew its stake in First Trust Long Duration Opportunities ETF by 109.0% in the first quarter. Centennial Wealth Advisory LLC now owns 394,494 shares of the company’s stock valued at $8,509,000 after purchasing an additional 205,721 shares during the last quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

First Trust Long Duration Opportunities ETF Company Profile

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.