Short Interest in First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Rises By 343.1%

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 162,940 shares, a growth of 343.1% from the April 15th total of 36,772 shares. Based on an average trading volume of 114,798 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.5% of the company’s shares are sold short.

First Trust Long Duration Opportunities ETF Trading Down 0.6%

LGOV stock opened at $21.42 on Wednesday. The firm’s 50-day moving average price is $21.69 and its two-hundred day moving average price is $21.88. First Trust Long Duration Opportunities ETF has a 12-month low of $20.14 and a 12-month high of $23.59. The stock has a market capitalization of $661.88 million, a price-to-earnings ratio of -11,238.20 and a beta of 0.34.

Hedge Funds Weigh In On First Trust Long Duration Opportunities ETF

Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in shares of First Trust Long Duration Opportunities ETF in the first quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in shares of First Trust Long Duration Opportunities ETF during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. increased its position in shares of First Trust Long Duration Opportunities ETF by 31.6% during the first quarter. Raleigh Capital Management Inc. now owns 1,931 shares of the company’s stock valued at $42,000 after buying an additional 464 shares during the period. Larson Financial Group LLC increased its position in shares of First Trust Long Duration Opportunities ETF by 21.3% during the third quarter. Larson Financial Group LLC now owns 2,669 shares of the company’s stock valued at $58,000 after buying an additional 469 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of First Trust Long Duration Opportunities ETF during the third quarter valued at about $61,000. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.