First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Sees Large Growth in Short Interest

by · The Markets Daily

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV – Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 84,353 shares, an increase of 3,692.9% from the August 15th total of 2,224 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 203,769 shares, the short-interest ratio is currently 0.4 days.

First Trust Long Duration Opportunities ETF Price Performance

Shares of NYSEARCA LGOV opened at $20.45 on Friday. The firm has a market capitalization of $605.32 million, a PE ratio of -10,729.28 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a 1-year low of $20.39 and a 1-year high of $23.59. The business’s fifty day moving average price is $20.98 and its two-hundred day moving average price is $21.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC raised its position in shares of First Trust Long Duration Opportunities ETF by 119.4% during the 2nd quarter. Citadel Advisors LLC now owns 1,052,410 shares of the company’s stock worth $22,522,000 after buying an additional 572,772 shares in the last quarter. Tidemark LLC acquired a new position in shares of First Trust Long Duration Opportunities ETF during the fourth quarter valued at approximately $12,359,000. Raymond James Financial Inc. increased its stake in shares of First Trust Long Duration Opportunities ETF by 36.5% during the second quarter. Raymond James Financial Inc. now owns 1,708,012 shares of the company’s stock valued at $36,586,000 after acquiring an additional 456,623 shares during the period. LPL Financial LLC raised its holdings in First Trust Long Duration Opportunities ETF by 11.5% during the fourth quarter. LPL Financial LLC now owns 3,889,011 shares of the company’s stock worth $84,897,000 after purchasing an additional 401,560 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in First Trust Long Duration Opportunities ETF by 311.4% in the second quarter. Jane Street Group LLC now owns 394,726 shares of the company’s stock worth $8,455,000 after purchasing an additional 298,781 shares during the period. Institutional investors own 0.03% of the company’s stock.

About First Trust Long Duration Opportunities ETF

(Get Free Report)

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.

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