First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Sees Large Decrease in Short Interest

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

First Trust Structured Credit Income Opportunities ETF Stock Down 0.4%

SCIO traded down $0.08 during trading on Wednesday, hitting $20.22. 4,247,812 shares of the stock were exchanged, compared to its average volume of 227,593. The firm has a market capitalization of $495.39 million, a P/E ratio of -267.05 and a beta of 0.07. First Trust Structured Credit Income Opportunities ETF has a 1-year low of $20.11 and a 1-year high of $21.69. The stock has a fifty day moving average price of $20.53 and a two-hundred day moving average price of $20.63.

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

A number of hedge funds have recently modified their holdings of SCIO. NI Acquisitions Company LLC purchased a new stake in First Trust Structured Credit Income Opportunities ETF in the 2nd quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new position in First Trust Structured Credit Income Opportunities ETF in the first quarter valued at $30,000. Torren Management LLC acquired a new position in First Trust Structured Credit Income Opportunities ETF in the first quarter valued at $39,000. Noble Wealth Management PBC purchased a new stake in shares of First Trust Structured Credit Income Opportunities ETF in the second quarter valued at about $98,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the second quarter worth about $254,000. 0.83% of the stock is currently owned by hedge funds and other institutional investors.

First Trust Structured Credit Income Opportunities ETF Company Profile

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.