First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Short Interest Up 1,158.1% in May

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 452,712 shares, a growth of 1,158.1% from the May 14th total of 35,985 shares. Based on an average trading volume of 200,723 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.6% of the company’s stock are sold short.

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

Large investors have recently bought and sold shares of the business. Atria Investments Inc purchased a new position in First Trust Structured Credit Income Opportunities ETF in the third quarter valued at $1,697,000. Crux Wealth Advisors purchased a new position in First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at $2,721,000. Daymark Wealth Partners LLC purchased a new position in First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at $2,641,000. Brookstone Capital Management purchased a new position in First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at $1,086,000. Finally, Delta Investment Management LLC increased its holdings in First Trust Structured Credit Income Opportunities ETF by 48.0% in the fourth quarter. Delta Investment Management LLC now owns 254,274 shares of the company’s stock valued at $5,289,000 after buying an additional 82,519 shares during the last quarter. Hedge funds and other institutional investors own 0.83% of the company’s stock.

First Trust Structured Credit Income Opportunities ETF Trading Up 0.1%

NYSEARCA:SCIO traded up $0.03 during trading hours on Tuesday, hitting $20.63. The company’s stock had a trading volume of 77,604 shares, compared to its average volume of 205,417. The stock has a market capitalization of $352.77 million, a P/E ratio of -272.46 and a beta of 0.07. The stock has a fifty day moving average of $20.66 and a 200-day moving average of $20.76. First Trust Structured Credit Income Opportunities ETF has a 52-week low of $20.40 and a 52-week high of $21.69.

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.