First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Hits New 12-Month Low – Should You Sell?

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) reached a new 52-week low on Wednesday. The company traded as low as $19.90 and last traded at $19.93, with a volume of 111961 shares trading hands. The stock had previously closed at $19.93.

First Trust Structured Credit Income Opportunities ETF Stock Up 0.2%

The stock has a market cap of $549.17 million, a price-to-earnings ratio of -263.75 and a beta of 0.09. The company’s 50-day moving average is $20.41 and its 200-day moving average is $20.57.

Institutional Investors Weigh In On First Trust Structured Credit Income Opportunities ETF

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC boosted its stake in First Trust Structured Credit Income Opportunities ETF by 2,317.8% in the 1st quarter. Kestra Advisory Services LLC now owns 568,187 shares of the company’s stock valued at $11,727,000 after buying an additional 544,687 shares in the last quarter. Royal Bank of Canada acquired a new position in First Trust Structured Credit Income Opportunities ETF during the first quarter worth $8,006,000. Beaumont Financial Advisors LLC acquired a new position in First Trust Structured Credit Income Opportunities ETF during the first quarter worth $7,243,000. Capital Investment Counsel LLC lifted its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 305.8% during the first quarter. Capital Investment Counsel LLC now owns 455,240 shares of the company’s stock valued at $9,396,000 after acquiring an additional 343,046 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 497.2% during the first quarter. First Trust Advisors LP now owns 251,837 shares of the company’s stock valued at $5,198,000 after acquiring an additional 209,664 shares during the period. 0.83% of the stock is currently owned by institutional investors.

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.