First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Sees Significant Drop in Short Interest

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 98,665 shares, a decrease of 78.2% from the May 31st total of 452,712 shares. Based on an average daily volume of 88,157 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On First Trust Structured Credit Income Opportunities ETF

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in First Trust Structured Credit Income Opportunities ETF by 45.0% during the 2nd quarter. First Trust Advisors LP now owns 39,091 shares of the company’s stock worth $808,000 after purchasing an additional 12,135 shares in the last quarter. Snowden Capital Advisors LLC purchased a new position in First Trust Structured Credit Income Opportunities ETF during the 2nd quarter valued at about $1,687,000. Osaic Holdings Inc. bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the second quarter valued at about $25,000. Citadel Advisors LLC bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the third quarter valued at about $533,000. Finally, IFP Advisors Inc purchased a new stake in shares of First Trust Structured Credit Income Opportunities ETF in the third quarter worth about $44,000. 0.83% of the stock is currently owned by hedge funds and other institutional investors.

First Trust Structured Credit Income Opportunities ETF Stock Performance

NYSEARCA:SCIO traded up $0.04 during mid-day trading on Friday, hitting $20.70. 105,013 shares of the stock were exchanged, compared to its average volume of 195,284. The firm’s 50-day simple moving average is $20.66 and its 200 day simple moving average is $20.75. First Trust Structured Credit Income Opportunities ETF has a fifty-two week low of $20.43 and a fifty-two week high of $21.69. The stock has a market capitalization of $353.97 million, a price-to-earnings ratio of -273.39 and a beta of 0.07.

First Trust Structured Credit Income Opportunities ETF Company Profile

The First Trust Structured Credit Income Opportunities ETF (SCIO) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed, seeking to maximize long-term income by holding intermediate-term structured credit investments such as RMBS, CMBS, CLOs, and ABS. Securities are of any credit quality. SCIO was launched on Feb 27, 2024 and is issued by First Trust.