First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO – Get Free Report) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 452,712 shares, an increase of 1,158.1% from the May 14th total of 35,985 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 200,723 shares, the days-to-cover ratio is currently 2.3 days.
First Trust Structured Credit Income Opportunities ETF Stock Down 0.0%
First Trust Structured Credit Income Opportunities ETF stock traded down $0.01 during mid-day trading on Wednesday, hitting $20.62. 57,254 shares of the company were exchanged, compared to its average volume of 204,055. The company has a market capitalization of $352.60 million, a PE ratio of -272.33 and a beta of 0.07. The business 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 1-year low of $20.40 and a 1-year high of $21.69.
Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF
Several institutional investors have recently added to or reduced their stakes in SCIO. Osaic Holdings Inc. bought a new stake in First Trust Structured Credit Income Opportunities ETF during the second quarter worth about $25,000. Raleigh Capital Management Inc. bought a new stake in First Trust Structured Credit Income Opportunities ETF during the 1st quarter worth approximately $30,000. Torren Management LLC bought a new stake in First Trust Structured Credit Income Opportunities ETF during the 1st quarter worth approximately $39,000. IFP Advisors Inc acquired a new stake in First Trust Structured Credit Income Opportunities ETF during the 3rd quarter valued at $44,000. Finally, N.E.W. Advisory Services LLC increased its holdings in First Trust Structured Credit Income Opportunities ETF by 38.3% during the 4th quarter. N.E.W. Advisory Services LLC now owns 10,022 shares of the company’s stock valued at $208,000 after purchasing an additional 2,775 shares in the last quarter. 0.83% of the stock is owned by institutional investors.
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.
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