First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Shares Shorted: Short Interest Down 68.2% in October

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 8,301 shares, a drop of 68.2% from the September 30th total of 26,071 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 238,933 shares, the days-to-cover ratio is currently 0.0 days.

First Trust Long Duration Opportunities ETF Stock Performance

Shares of NYSEARCA:LGOV traded up $0.12 during mid-day trading on Thursday, reaching $20.31. 100,784 shares of the company’s stock were exchanged, compared to its average volume of 199,323. The firm has a market capitalization of $609.30 million, a price-to-earnings ratio of -10,655.82 and a beta of 0.35. The business’s fifty day moving average price is $20.28 and its 200-day moving average price is $21.22. First Trust Long Duration Opportunities ETF has a twelve month low of $19.40 and a twelve month high of $23.59.

Hedge Funds Weigh In On First Trust Long Duration Opportunities ETF

Several institutional investors have recently added to or reduced their stakes in LGOV. Financial Enhancement Group LLC grew its stake in First Trust Long Duration Opportunities ETF by 161.0% in the third quarter. Financial Enhancement Group LLC now owns 1,290,981 shares of the company’s stock valued at $25,226,000 after acquiring an additional 796,261 shares during the period. Citadel Advisors LLC increased 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 acquiring an additional 572,772 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of First Trust Long Duration Opportunities ETF during the second quarter valued at approximately $5,462,000. Cetera Investment Advisers increased its holdings in shares of First Trust Long Duration Opportunities ETF by 37.2% during the first quarter. Cetera Investment Advisers now owns 767,082 shares of the company’s stock valued at $16,546,000 after acquiring an additional 207,997 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of First Trust Long Duration Opportunities ETF by 29.7% during the first quarter. Stephens Inc. AR now owns 870,712 shares of the company’s stock worth $18,781,000 after purchasing an additional 199,341 shares during the period. 0.03% of the stock is owned by institutional investors and hedge funds.

About First Trust Long Duration Opportunities ETF

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.