First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Sees Significant Increase in Short Interest

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 26,071 shares, an increase of 320.2% from the September 15th total of 6,204 shares. Based on an average daily trading volume, of 230,514 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Trading of First Trust Long Duration Opportunities ETF

A number of hedge funds have recently bought and sold shares of LGOV. Fifth Third Bancorp bought a new position in shares of First Trust Long Duration Opportunities ETF during the 1st quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its holdings in shares of First Trust Long Duration Opportunities ETF by 31.6% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,931 shares of the company’s stock worth $42,000 after purchasing an additional 464 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of First Trust Long Duration Opportunities ETF by 37.1% in the 1st quarter. Pinnacle Bancorp Inc. now owns 4,148 shares of the company’s stock worth $89,000 after purchasing an additional 1,122 shares during the period. NI Acquisitions Company LLC purchased a new position in First Trust Long Duration Opportunities ETF in the second quarter valued at approximately $133,000. Finally, World Investment Advisors purchased a new position in First Trust Long Duration Opportunities ETF in the fourth quarter valued at approximately $225,000. 0.03% of the stock is currently owned by institutional investors.

First Trust Long Duration Opportunities ETF Price Performance

Shares of NYSEARCA LGOV traded up $0.05 during midday trading on Monday, reaching $19.83. The company’s stock had a trading volume of 101,162 shares, compared to its average volume of 201,659. The stock has a market capitalization of $594.90 million, a P/E ratio of -10,403.99 and a beta of 0.35. The firm has a 50 day moving average price of $20.51 and a 200-day moving average price of $21.08. First Trust Long Duration Opportunities ETF has a 12-month low of $19.40 and a 12-month high of $23.59.

First Trust Long Duration Opportunities ETF Company Profile

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.