First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Sees Large Volume Increase – Time to Buy?

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) shares saw strong trading volume on Monday. 971,591 shares were traded during mid-day trading, an increase of 335% from the previous session’s volume of 223,259 shares. The stock last traded at $19.90 and had previously closed at $19.97.

First Trust Structured Credit Income Opportunities ETF Price Performance

The company’s 50-day moving average price is $20.38 and its 200-day moving average price is $20.55. The company has a market cap of $547.52 million, a P/E ratio of -262.95 and a beta of 0.09.

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

A number of large investors have recently added to or reduced their stakes in SCIO. Kestra Advisory Services LLC raised its position in First Trust Structured Credit Income Opportunities ETF by 2,317.8% in the 1st quarter. Kestra Advisory Services LLC now owns 568,187 shares of the company’s stock valued at $11,727,000 after buying an additional 544,687 shares during the last quarter. Royal Bank of Canada acquired a new position in First Trust Structured Credit Income Opportunities ETF during the 1st quarter worth approximately $8,006,000. Beaumont Financial Advisors LLC acquired a new position in First Trust Structured Credit Income Opportunities ETF during the 1st quarter worth approximately $7,243,000. Capital Investment Counsel LLC grew its stake in shares of First Trust Structured Credit Income Opportunities ETF by 305.8% during the 1st quarter. Capital Investment Counsel LLC now owns 455,240 shares of the company’s stock worth $9,396,000 after acquiring an additional 343,046 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of First Trust Structured Credit Income Opportunities ETF by 497.2% during the 1st quarter. First Trust Advisors LP now owns 251,837 shares of the company’s stock worth $5,198,000 after acquiring an additional 209,664 shares in the last quarter. Institutional investors own 0.83% of the company’s stock.

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.