First Trust Income Opportunities ETF (NASDAQ:FCEF) Sees Significant Drop in Short Interest

First Trust Income Opportunities ETF (NASDAQ:FCEF) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 22,051 shares, a decrease of 45.6% from the April 30th total of 40,527 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 18,023 shares, the days-to-cover ratio is currently 1.2 days.

First Trust Income Opportunities ETF Stock Performance

First Trust Income Opportunities ETF stock remained flat at $23.85 during mid-day trading on Tuesday. The company’s stock had a trading volume of 4,070 shares, compared to its average volume of 18,054. The company has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $23.19. The company has a market capitalization of $75.13 million, a PE ratio of 19.88 and a beta of 0.78. First Trust Income Opportunities ETF has a 12 month low of $21.80 and a 12 month high of $24.07.

First Trust Income Opportunities ETF Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th were given a $0.1375 dividend. The ex-dividend date of this dividend was Tuesday, May 12th.

Hedge Funds Weigh In On First Trust Income Opportunities ETF

Several hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in shares of First Trust Income Opportunities ETF in the 1st quarter worth $51,000. Ameritas Advisory Services LLC lifted its holdings in shares of First Trust Income Opportunities ETF by 31.9% in the 3rd quarter. Ameritas Advisory Services LLC now owns 3,758 shares of the company’s stock worth $86,000 after buying an additional 908 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of First Trust Income Opportunities ETF in the 4th quarter worth $102,000. Janney Montgomery Scott LLC purchased a new stake in shares of First Trust Income Opportunities ETF in the 1st quarter worth $234,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of First Trust Income Opportunities ETF by 330.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,195 shares of the company’s stock worth $252,000 after buying an additional 8,595 shares during the period.

First Trust Income Opportunities ETF Company Profile

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.