First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO – Get Free Report) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 98,665 shares, a drop of 78.2% from the May 31st total of 452,712 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 88,157 shares, the days-to-cover ratio is currently 1.1 days.
Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crux Wealth Advisors purchased a new position in First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at about $2,721,000. Delta Investment Management LLC raised its holdings in shares of First Trust Structured Credit Income Opportunities ETF by 48.0% in the 4th quarter. Delta Investment Management LLC now owns 254,274 shares of the company’s stock worth $5,289,000 after purchasing an additional 82,519 shares during the period. Daymark Wealth Partners LLC bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF in the 4th quarter worth approximately $2,641,000. Brookstone Capital Management purchased a new position in First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at approximately $1,086,000. Finally, HighTower Advisors LLC lifted its stake in First Trust Structured Credit Income Opportunities ETF by 183.3% in the fourth quarter. HighTower Advisors LLC now owns 50,541 shares of the company’s stock valued at $1,051,000 after purchasing an additional 32,704 shares during the last quarter. 0.83% of the stock is owned by hedge funds and other institutional investors.
First Trust Structured Credit Income Opportunities ETF Price Performance
First Trust Structured Credit Income Opportunities ETF stock remained flat at $20.70 during mid-day trading on Monday. The company had a trading volume of 1,980,361 shares, compared to its average volume of 209,863. The business has a 50 day simple moving average of $20.66 and a two-hundred day simple moving average of $20.75. First Trust Structured Credit Income Opportunities ETF has a 1-year low of $20.43 and a 1-year high of $21.69. The company has a market capitalization of $353.97 million, a price-to-earnings ratio of -273.39 and a beta of 0.07.
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.
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