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

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 131,800 shares, anincreaseof493.7% from the July 15th total of 22,200 shares. Based on an average daily trading volume, of 271,400 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.4% of the company’s shares are short sold. Currently,0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 271,400 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Long Duration Opportunities ETF Stock Down 0.4%

NYSEARCA:LGOV opened at $21.33 on Friday. The company has a fifty day moving average of $21.26 and a 200 day moving average of $21.24. First Trust Long Duration Opportunities ETF has a 52 week low of $19.91 and a 52 week high of $23.64. The firm has a market capitalization of $628.17 million, a P/E ratio of -11,190.98 and a beta of 0.12.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in shares of First Trust Long Duration Opportunities ETF by 588.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,770 shares of the company’s stock worth $37,000 after buying an additional 1,513 shares in the last quarter. CWM LLC lifted its stake in First Trust Long Duration Opportunities ETF by 93.3% in the 2nd quarter. CWM LLC now owns 2,598 shares of the company’s stock worth $56,000 after purchasing an additional 1,254 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in shares of First Trust Long Duration Opportunities ETF during the 1st quarter valued at about $92,000. Rossby Financial LCC purchased a new position in shares of First Trust Long Duration Opportunities ETF during the first quarter valued at about $95,000. Finally, Synergy Investment Management LLC increased its holdings in shares of First Trust Long Duration Opportunities ETF by 9.5% in the first quarter. Synergy Investment Management LLC now owns 9,156 shares of the company’s stock worth $197,000 after purchasing an additional 795 shares during the last quarter. 0.03% of the stock is currently owned by institutional investors.

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.