First Trust Intermediate Duration Investment Grade Corporate ETF (NYSEARCA:FIIG) Sees Significant Drop in Short Interest

First Trust Intermediate Duration Investment Grade Corporate ETF (NYSEARCA:FIIG) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 8,999 shares, a drop of 93.0% from the May 14th total of 128,458 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 142,518 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Intermediate Duration Investment Grade Corporate ETF Stock Performance

First Trust Intermediate Duration Investment Grade Corporate ETF stock traded up $0.13 during mid-day trading on Thursday, hitting $20.75. 52,556 shares of the company’s stock were exchanged, compared to its average volume of 207,971. First Trust Intermediate Duration Investment Grade Corporate ETF has a fifty-two week low of $20.43 and a fifty-two week high of $21.49. The company’s 50 day simple moving average is $20.77 and its 200-day simple moving average is $20.99.

Institutional Trading of First Trust Intermediate Duration Investment Grade Corporate ETF

Several hedge funds have recently added to or reduced their stakes in FIIG. GeoWealth Management LLC increased its holdings in First Trust Intermediate Duration Investment Grade Corporate ETF by 3.7% during the 3rd quarter. GeoWealth Management LLC now owns 14,661 shares of the company’s stock worth $311,000 after purchasing an additional 519 shares in the last quarter. RFG Advisory LLC increased its holdings in First Trust Intermediate Duration Investment Grade Corporate ETF by 2.1% during the 4th quarter. RFG Advisory LLC now owns 25,855 shares of the company’s stock worth $548,000 after purchasing an additional 529 shares in the last quarter. Evolution Wealth Management Inc. increased its holdings in First Trust Intermediate Duration Investment Grade Corporate ETF by 15.9% during the 1st quarter. Evolution Wealth Management Inc. now owns 5,085 shares of the company’s stock worth $106,000 after purchasing an additional 696 shares in the last quarter. Betterment LLC grew its holdings in shares of First Trust Intermediate Duration Investment Grade Corporate ETF by 7.2% in the 4th quarter. Betterment LLC now owns 13,460 shares of the company’s stock valued at $285,000 after acquiring an additional 900 shares in the last quarter. Finally, Asset Allocation Strategies LLC increased its position in shares of First Trust Intermediate Duration Investment Grade Corporate ETF by 5.7% in the first quarter. Asset Allocation Strategies LLC now owns 20,581 shares of the company’s stock valued at $427,000 after acquiring an additional 1,101 shares during the last quarter.

About First Trust Intermediate Duration Investment Grade Corporate ETF

The First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed, investing in a broad portfolio of US investment grade, corporate debt securities. The portfolio aims for a dollar-weighted average maturity between three and ten years FIIG was launched on Aug 2, 2023 and is issued by First Trust.