First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Sees Significant Decrease in Short Interest

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the target of a large drop in short interest in October. As of October 30th, there was short interest totaling 3,975 shares, a drop of 52.1% from the October 15th total of 8,301 shares. Based on an average daily trading volume, of 195,420 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

First Trust Long Duration Opportunities ETF Stock Down 0.1%

Shares of First Trust Long Duration Opportunities ETF stock traded down $0.03 on Friday, reaching $20.05. The stock had a trading volume of 194,553 shares, compared to its average volume of 201,404. The company has a 50 day moving average price of $20.16 and a 200 day moving average price of $21.14. First Trust Long Duration Opportunities ETF has a 1 year low of $19.40 and a 1 year high of $23.59. The stock has a market capitalization of $601.50 million, a P/E ratio of -10,519.41 and a beta of 0.34.

Institutional Investors Weigh In On First Trust Long Duration Opportunities ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp purchased a new position in First Trust Long Duration Opportunities ETF in the first quarter worth $25,000. Signature Equity Partners LLC lifted its holdings in shares of First Trust Long Duration Opportunities ETF by 2,564.6% during the 3rd quarter. Signature Equity Partners LLC now owns 2,638 shares of the company’s stock valued at $52,000 after purchasing an additional 2,539 shares during the last quarter. NI Acquisitions Company LLC purchased a new stake in shares of First Trust Long Duration Opportunities ETF during the 2nd quarter valued at $133,000. Asset Allocation Strategies LLC acquired a new stake in shares of First Trust Long Duration Opportunities ETF in the 2nd quarter worth $241,000. Finally, Medallion Wealth Advisors LLC boosted its position in shares of First Trust Long Duration Opportunities ETF by 10.2% in the 3rd quarter. Medallion Wealth Advisors LLC now owns 13,995 shares of the company’s stock worth $274,000 after purchasing an additional 1,295 shares in 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.