First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Sees Large Drop in Short Interest

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 8,809 shares, a decrease of 32.9% from the June 30th total of 13,131 shares. Based on an average daily volume of 202,035 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LGOV. LPL Financial LLC increased its stake in shares of First Trust Long Duration Opportunities ETF by 11.5% in the 4th quarter. LPL Financial LLC now owns 3,889,011 shares of the company’s stock valued at $84,897,000 after buying an additional 401,560 shares during the period. Royal Bank of Canada raised its position in shares of First Trust Long Duration Opportunities ETF by 8.8% during the first quarter. Royal Bank of Canada now owns 2,020,458 shares of the company’s stock worth $43,581,000 after acquiring an additional 164,213 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of First Trust Long Duration Opportunities ETF by 36.5% during the second quarter. Raymond James Financial Inc. now owns 1,708,012 shares of the company’s stock valued at $36,586,000 after acquiring an additional 456,623 shares during the period. Csenge Advisory Group lifted its stake in shares of First Trust Long Duration Opportunities ETF by 6.2% during the fourth quarter. Csenge Advisory Group now owns 974,216 shares of the company’s stock valued at $21,267,000 after acquiring an additional 56,704 shares during the period. Finally, Stephens Inc. AR boosted its holdings in First Trust Long Duration Opportunities ETF by 29.7% in the first quarter. Stephens Inc. AR now owns 870,712 shares of the company’s stock valued at $18,781,000 after acquiring an additional 199,341 shares during the last quarter. 0.03% of the stock is currently owned by institutional investors.

First Trust Long Duration Opportunities ETF Price Performance

Shares of First Trust Long Duration Opportunities ETF stock opened at $20.98 on Friday. The firm has a market cap of $621.01 million, a P/E ratio of -11,007.35 and a beta of 0.34. The firm has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $21.60. First Trust Long Duration Opportunities ETF has a fifty-two week low of $20.45 and a fifty-two week high of $23.59.

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.