First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Sets New 1-Year Low – Should You Sell?

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) shares hit a new 52-week low on Thursday . The stock traded as low as $20.02 and last traded at $20.0360, with a volume of 4261 shares. The stock had previously closed at $20.23.

First Trust Structured Credit Income Opportunities ETF Trading Down 0.6%

The company has a market capitalization of $550.58 million, a price-to-earnings ratio of -264.47 and a beta of 0.07. The stock’s fifty day simple moving average is $20.49 and its 200-day simple moving average is $20.60.

Institutional Trading of First Trust Structured Credit Income Opportunities ETF

Hedge funds have recently modified their holdings of the stock. NI Acquisitions Company LLC purchased a new position in First Trust Structured Credit Income Opportunities ETF in the second quarter worth approximately $28,000. Raleigh Capital Management Inc. purchased a new stake in shares of First Trust Structured Credit Income Opportunities ETF in the 1st quarter valued at approximately $30,000. Torren Management LLC purchased a new stake in shares of First Trust Structured Credit Income Opportunities ETF in the 1st quarter valued at approximately $39,000. Triton Wealth Management PLLC increased its position in shares of First Trust Structured Credit Income Opportunities ETF by 6.1% in the 1st quarter. Triton Wealth Management PLLC now owns 39,720 shares of the company’s stock valued at $819,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 2.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 199,532 shares of the company’s stock valued at $4,150,000 after purchasing an additional 4,623 shares in the last quarter. 0.83% of the stock is currently owned by institutional investors and hedge funds.

About First Trust Structured Credit Income Opportunities ETF

The First Trust Structured Credit Income Opportunities ETF (SCIO) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed, seeking to maximize long-term income by holding intermediate-term structured credit investments such as RMBS, CMBS, CLOs, and ABS. Securities are of any credit quality. SCIO was launched on Feb 27, 2024 and is issued by First Trust.