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

First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 53,212 shares, an increase of 1,003.5% from the September 30th total of 4,822 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 47,849 shares, the days-to-cover ratio is currently 1.1 days.

First Trust Intermediate Government Opportunities ETF Trading Up 0.2%

Shares of MGOV traded up $0.04 during midday trading on Monday, hitting $19.43. The stock had a trading volume of 12,352 shares, compared to its average volume of 33,997. The stock’s 50 day moving average is $19.50 and its 200 day moving average is $20.09. First Trust Intermediate Government Opportunities ETF has a 1 year low of $18.94 and a 1 year high of $20.95.

Institutional Investors Weigh In On First Trust Intermediate Government Opportunities ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGOV. Citadel Advisors LLC purchased a new stake in shares of First Trust Intermediate Government Opportunities ETF in the second quarter valued at approximately $868,000. First Trust Advisors LP raised its position in shares of First Trust Intermediate Government Opportunities ETF by 37.6% in the 1st quarter. First Trust Advisors LP now owns 249,647 shares of the company’s stock worth $5,062,000 after acquiring an additional 68,232 shares in the last quarter. Stephens Inc. AR bought a new position in shares of First Trust Intermediate Government Opportunities ETF in the 1st quarter worth $7,487,000. Inspirion Wealth Advisors LLC purchased a new stake in shares of First Trust Intermediate Government Opportunities ETF during the 3rd quarter worth $899,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of First Trust Intermediate Government Opportunities ETF by 32.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,004,072 shares of the company’s stock worth $20,271,000 after purchasing an additional 245,936 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.