First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) Sees Large Drop in Short Interest

First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 1,494 shares, a drop of 79.5% from the July 15th total of 7,282 shares. Based on an average daily trading volume, of 20,538 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

First Trust Intermediate Government Opportunities ETF Stock Performance

MGOV traded down $0.04 during trading on Friday, hitting $19.91. The stock had a trading volume of 7,339 shares, compared to its average volume of 35,549. First Trust Intermediate Government Opportunities ETF has a 12 month low of $19.72 and a 12 month high of $20.95. The company has a 50 day simple moving average of $20.04 and a 200-day simple moving average of $20.27.

Institutional Trading of First Trust Intermediate Government Opportunities ETF

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in First Trust Intermediate Government Opportunities ETF by 37.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,788 shares of the company’s stock worth $157,000 after buying an additional 2,119 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of First Trust Intermediate Government Opportunities ETF in the first quarter worth $205,000. Kovack Advisors Inc. acquired a new stake in shares of First Trust Intermediate Government Opportunities ETF in the fourth quarter worth $251,000. Benjamin Edwards Inc. bought a new position in First Trust Intermediate Government Opportunities ETF during the fourth quarter worth $267,000. Finally, NewEdge Advisors LLC increased its position in First Trust Intermediate Government Opportunities ETF by 547.1% during the fourth quarter. NewEdge Advisors LLC now owns 22,572 shares of the company’s stock worth $462,000 after acquiring an additional 19,084 shares during the period.

About First Trust Intermediate Government Opportunities ETF

The First Trust Intermediate Government Opportunities ETF (MGOV) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed ETF that mainly invests in U.S. Treasury and mortgage-related securities MGOV was launched on Aug 2, 2023 and is issued by First Trust.