Short Interest in First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Decreases By 53.6%

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 25,695 shares, a decline of 53.6% from the August 15th total of 55,403 shares. Based on an average daily volume of 188,920 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

First Trust Structured Credit Income Opportunities ETF Price Performance

Shares of NYSEARCA:SCIO opened at $20.34 on Monday. First Trust Structured Credit Income Opportunities ETF has a 1 year low of $20.34 and a 1 year high of $21.69. The company has a market cap of $498.33 million, a P/E ratio of -268.63 and a beta of 0.07. The stock’s fifty day moving average price is $20.55 and its 200-day moving average price is $20.64.

Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SCIO. First Trust Advisors LP boosted its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 45.0% during the 2nd quarter. First Trust Advisors LP now owns 39,091 shares of the company’s stock valued at $808,000 after acquiring an additional 12,135 shares during the last quarter. Snowden Capital Advisors LLC purchased a new position in shares of First Trust Structured Credit Income Opportunities ETF during the second quarter valued at approximately $1,687,000. Osaic Holdings Inc. bought a new position in First Trust Structured Credit Income Opportunities ETF during the second quarter valued at approximately $25,000. Citadel Advisors LLC bought a new position in First Trust Structured Credit Income Opportunities ETF during the third quarter valued at approximately $533,000. Finally, IFP Advisors Inc purchased a new stake in First Trust Structured Credit Income Opportunities ETF in the third quarter worth approximately $44,000. Institutional investors own 0.83% of the company’s stock.

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.