Short Interest in First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) Increases By 110.5%

First Trust Intermediate Government Opportunities ETF (NYSEARCA:MGOV) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 7,444 shares, a growth of 110.5% from the May 14th total of 3,536 shares. Based on an average daily trading volume, of 29,886 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

First Trust Intermediate Government Opportunities ETF Stock Performance

MGOV traded down $0.06 during trading on Friday, reaching $20.15. 40,844 shares of the company’s stock were exchanged, compared to its average volume of 41,016. First Trust Intermediate Government Opportunities ETF has a 1 year low of $19.78 and a 1 year high of $20.95. The company’s fifty day simple moving average is $20.21 and its 200-day simple moving average is $20.42.

Hedge Funds Weigh In On First Trust Intermediate Government Opportunities ETF

A number of institutional investors have recently bought and sold shares of MGOV. Truist Financial Corp raised its position in First Trust Intermediate Government Opportunities ETF by 246.0% during the 4th quarter. Truist Financial Corp now owns 715,577 shares of the company’s stock worth $14,651,000 after buying an additional 508,778 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of First Trust Intermediate Government Opportunities ETF during the 1st quarter valued at approximately $7,487,000. Cetera Investment Advisers increased its holdings in shares of First Trust Intermediate Government Opportunities ETF by 450.2% during the 4th quarter. Cetera Investment Advisers now owns 189,957 shares of the company’s stock valued at $3,889,000 after purchasing an additional 155,430 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of First Trust Intermediate Government Opportunities ETF during the 3rd quarter valued at approximately $2,730,000. Finally, Kingsview Wealth Management LLC increased its holdings in shares of First Trust Intermediate Government Opportunities ETF by 42.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 431,624 shares of the company’s stock valued at $8,838,000 after purchasing an additional 129,188 shares in the last quarter.

About First Trust Intermediate Government Opportunities ETF

The First Trust Intermediate Government Opportunities ETF (MGOV) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed ETF that mainly invests in U.S. Treasury and mortgage-related securities MGOV was launched on Aug 2, 2023 and is issued by First Trust.