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

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 84,353 shares, a growth of 3,692.9% from the August 15th total of 2,224 shares. Based on an average trading volume of 203,769 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On First Trust Long Duration Opportunities ETF

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of First Trust Long Duration Opportunities ETF by 11.5% during the fourth quarter. LPL Financial LLC now owns 3,889,011 shares of the company’s stock valued at $84,897,000 after acquiring an additional 401,560 shares in the last quarter. Royal Bank of Canada grew its stake in shares of First Trust Long Duration Opportunities ETF by 8.8% in 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 period. Raymond James Financial Inc. grew its stake in shares of First Trust Long Duration Opportunities ETF by 36.5% in the second quarter. Raymond James Financial Inc. now owns 1,708,012 shares of the company’s stock worth $36,586,000 after acquiring an additional 456,623 shares during the period. Citadel Advisors LLC raised its holdings in shares of First Trust Long Duration Opportunities ETF by 119.4% during the second quarter. Citadel Advisors LLC now owns 1,052,410 shares of the company’s stock valued at $22,522,000 after purchasing an additional 572,772 shares during the last quarter. Finally, Csenge Advisory Group raised its holdings 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 purchasing an additional 56,704 shares during the last quarter. 0.03% of the stock is currently owned by institutional investors.

First Trust Long Duration Opportunities ETF Price Performance

First Trust Long Duration Opportunities ETF stock traded down $0.18 during mid-day trading on Thursday, reaching $20.45. 253,339 shares of the company traded hands, compared to its average volume of 195,315. The firm’s 50 day moving average price is $21.00 and its 200 day moving average price is $21.39. The firm has a market capitalization of $605.32 million, a price-to-earnings ratio of -10,729.28 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a 52-week low of $20.39 and a 52-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.