Short Interest in First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Decreases By 35.4%

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 46,781 shares, a decline of 35.4% from the July 15th total of 72,426 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 157,911 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Structured Credit Income Opportunities ETF Trading Up 0.0%

First Trust Structured Credit Income Opportunities ETF stock traded up $0.01 during midday trading on Wednesday, hitting $20.63. The stock had a trading volume of 22,791 shares, compared to its average volume of 205,727. The firm’s fifty day moving average is $20.61 and its two-hundred day moving average is $20.69. The company has a market capitalization of $505.44 million, a PE ratio of -272.46 and a beta of 0.07. First Trust Structured Credit Income Opportunities ETF has a 52-week low of $20.40 and a 52-week high of $21.69.

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

A number of hedge funds have recently modified their holdings of the company. Delta Investment Management LLC increased its stake in First Trust Structured Credit Income Opportunities ETF by 48.0% in the 4th quarter. Delta Investment Management LLC now owns 254,274 shares of the company’s stock worth $5,289,000 after buying an additional 82,519 shares in the last quarter. Independent Wealth Network Inc. purchased a new position in shares of First Trust Structured Credit Income Opportunities ETF in the first quarter valued at about $1,561,000. Capital Investment Counsel LLC lifted its position in shares of First Trust Structured Credit Income Opportunities ETF by 305.8% in the first quarter. Capital Investment Counsel LLC now owns 455,240 shares of the company’s stock valued at $9,396,000 after acquiring an additional 343,046 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of First Trust Structured Credit Income Opportunities ETF in the fourth quarter worth about $1,343,000. Finally, Arkadios Wealth Advisors boosted its stake in shares of First Trust Structured Credit Income Opportunities ETF by 497.3% in the first quarter. Arkadios Wealth Advisors now owns 82,263 shares of the company’s stock worth $1,698,000 after acquiring an additional 68,491 shares during the period. 0.83% of the stock is currently owned by institutional investors.

About First Trust Structured Credit Income Opportunities ETF

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.