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

First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) saw a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 10,192 shares, a drop of 80.8% from the October 15th total of 53,212 shares. Based on an average daily trading volume, of 25,226 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

First Trust Intermediate Government Opportunities ETF Stock Performance

Shares of NYSEARCA MGOV traded down $0.03 during mid-day trading on Friday, reaching $19.31. 8,092 shares of the company were exchanged, compared to its average volume of 32,696. The company’s 50-day simple moving average is $19.39 and its 200-day simple moving average is $20.02. First Trust Intermediate Government Opportunities ETF has a twelve month low of $18.94 and a twelve month high of $20.95.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Asset Dedication LLC acquired a new stake in First Trust Intermediate Government Opportunities ETF during the third quarter worth approximately $122,000. Kestra Advisory Services LLC bought a new stake in shares of First Trust Intermediate Government Opportunities ETF during the first quarter worth approximately $205,000. Integrated Wealth Concepts LLC boosted its holdings in shares of First Trust Intermediate Government Opportunities ETF by 11.7% during the second quarter. Integrated Wealth Concepts LLC now owns 112,197 shares of the company’s stock worth $2,265,000 after acquiring an additional 11,768 shares during the period. Kovack Advisors Inc. boosted its holdings in shares of First Trust Intermediate Government Opportunities ETF by 55.6% during the third quarter. Kovack Advisors Inc. now owns 38,050 shares of the company’s stock worth $726,000 after acquiring an additional 13,600 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of First Trust Intermediate Government Opportunities ETF by 8.5% in the first quarter. Cetera Investment Advisers now owns 206,115 shares of the company’s stock valued at $4,179,000 after purchasing an additional 16,158 shares during 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.