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

First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 3,075 shares, a drop of 58.7% from the May 31st total of 7,444 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 36,396 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Intermediate Government Opportunities ETF Stock Performance

Shares of First Trust Intermediate Government Opportunities ETF stock opened at $20.19 on Wednesday. The firm’s 50 day simple moving average is $20.18 and its two-hundred day simple moving average is $20.39. First Trust Intermediate Government Opportunities ETF has a 12-month low of $19.78 and a 12-month high of $20.95.

Institutional Trading of First Trust Intermediate Government Opportunities ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in shares of First Trust Intermediate Government Opportunities ETF by 246.0% during the fourth quarter. Truist Financial Corp now owns 715,577 shares of the company’s stock worth $14,651,000 after purchasing an additional 508,778 shares during the period. Commonwealth Equity Services LLC lifted its stake in First Trust Intermediate Government Opportunities ETF by 10.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 483,473 shares of the company’s stock valued at $9,899,000 after buying an additional 46,146 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of First Trust Intermediate Government Opportunities ETF by 42.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 431,624 shares of the company’s stock worth $8,838,000 after acquiring an additional 129,188 shares during the last quarter. Stephens Inc. AR acquired a new position in First Trust Intermediate Government Opportunities ETF in the 1st quarter valued at $7,487,000. Finally, First Trust Advisors LP lifted its holdings in First Trust Intermediate Government Opportunities ETF by 37.6% in the 1st quarter. First Trust Advisors LP now owns 249,647 shares of the company’s stock valued at $5,062,000 after purchasing an additional 68,232 shares in the last quarter.

First Trust Intermediate Government Opportunities ETF Company Profile

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.