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 target of a large drop in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 88,157 shares, the days-to-cover ratio is currently 1.1 days.

First Trust Structured Credit Income Opportunities ETF Price Performance

First Trust Structured Credit Income Opportunities ETF stock traded up $0.04 during midday trading on Friday, hitting $20.70. 105,013 shares of the company were exchanged, compared to its average volume of 195,284. The company has a market cap of $353.97 million, a PE ratio of -273.39 and a beta of 0.07. First Trust Structured Credit Income Opportunities ETF has a fifty-two week low of $20.43 and a fifty-two week high of $21.69. The company’s fifty day moving average price is $20.66 and its 200-day moving average price is $20.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Crux Wealth Advisors purchased a new position in shares of First Trust Structured Credit Income Opportunities ETF in the fourth quarter valued at $2,721,000. Delta Investment Management LLC increased its stake in First Trust Structured Credit Income Opportunities ETF by 48.0% during the 4th quarter. Delta Investment Management LLC now owns 254,274 shares of the company’s stock worth $5,289,000 after buying an additional 82,519 shares during the period. Daymark Wealth Partners LLC purchased a new stake in First Trust Structured Credit Income Opportunities ETF during the 4th quarter worth $2,641,000. Brookstone Capital Management acquired a new position in First Trust Structured Credit Income Opportunities ETF in the 4th quarter worth $1,086,000. Finally, Farther Finance Advisors LLC lifted its holdings in First Trust Structured Credit Income Opportunities ETF by 290.8% in the 4th quarter. Farther Finance Advisors LLC now owns 50,130 shares of the company’s stock worth $1,043,000 after buying an additional 37,304 shares in the last quarter. 0.83% of the stock is owned by institutional investors and hedge funds.

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.