First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) Short Interest Down 94.9% in August

First Trust Long Duration Opportunities ETF (NYSEARCA:LGOV) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 2,224 shares, a decline of 94.9% from the July 30th total of 43,373 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 187,957 shares, the short-interest ratio is currently 0.0 days.

First Trust Long Duration Opportunities ETF Stock Performance

Shares of NYSEARCA LGOV remained flat at $21.01 during midday trading on Thursday. 48,176 shares of the company traded hands, compared to its average volume of 193,627. The firm has a 50-day moving average of $21.14 and a 200-day moving average of $21.48. The company has a market capitalization of $621.90 million, a price-to-earnings ratio of -11,023.08 and a beta of 0.34. First Trust Long Duration Opportunities ETF has a one year low of $20.45 and a one year high of $23.59.

Hedge Funds Weigh In On First Trust Long Duration Opportunities ETF

A number of hedge funds have recently modified their holdings of LGOV. Fifth Third Bancorp purchased a new position in shares of First Trust Long Duration Opportunities ETF during the 1st quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in First Trust Long Duration Opportunities ETF in the 4th quarter worth $26,000. Raleigh Capital Management Inc. raised its holdings in First Trust Long Duration Opportunities ETF by 31.6% during the first quarter. Raleigh Capital Management Inc. now owns 1,931 shares of the company’s stock valued at $42,000 after acquiring an additional 464 shares during the period. Larson Financial Group LLC lifted its position in shares of First Trust Long Duration Opportunities ETF by 21.3% in the third quarter. Larson Financial Group LLC now owns 2,669 shares of the company’s stock valued at $58,000 after acquiring an additional 469 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of First Trust Long Duration Opportunities ETF in the third quarter worth about $61,000. 0.03% of the stock is currently owned by institutional investors.

About First Trust Long Duration Opportunities ETF

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.