First Trust Income Opportunities ETF (NASDAQ:FCEF) Sees Large Decline in Short Interest

First Trust Income Opportunities ETF (NASDAQ:FCEF) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 10,815 shares, a drop of 59.5% from the June 30th total of 26,690 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 33,033 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On First Trust Income Opportunities ETF

A number of institutional investors have recently modified their holdings of FCEF. Western Wealth Management LLC acquired a new stake in First Trust Income Opportunities ETF in the first quarter valued at about $51,000. Kestra Advisory Services LLC bought a new position in First Trust Income Opportunities ETF in the fourth quarter valued at about $102,000. Janney Montgomery Scott LLC acquired a new position in First Trust Income Opportunities ETF during the first quarter worth about $234,000. NewEdge Advisors LLC raised its stake in First Trust Income Opportunities ETF by 330.6% during the first quarter. NewEdge Advisors LLC now owns 11,195 shares of the company’s stock worth $252,000 after acquiring an additional 8,595 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of First Trust Income Opportunities ETF in the fourth quarter worth about $414,000.

First Trust Income Opportunities ETF Price Performance

FCEF traded down $0.09 during trading on Wednesday, hitting $23.57. 13,664 shares of the stock traded hands, compared to its average volume of 18,507. The business has a 50 day moving average price of $23.78 and a 200 day moving average price of $23.47. First Trust Income Opportunities ETF has a twelve month low of $21.95 and a twelve month high of $24.12. The company has a market cap of $80.14 million, a price-to-earnings ratio of 19.88 and a beta of 0.77.

First Trust Income Opportunities ETF Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be paid a $0.1375 dividend. The ex-dividend date is Tuesday, July 14th.

About First Trust Income Opportunities ETF

The First Trust Income Opportunity ETF (FCEF) is an exchange-traded fund that is based on the S-Network Composite Closed-End Fund index. The fund is an actively managed ETF that holds closed-end funds to get exposure to US and non-US equity, fixed income securities, and commodities. The fund’s primary objective is to provide current income. FCEF was launched on Sep 27, 2016 and is managed by First Trust.