First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) Short Interest Up 1,158.1% in May

First Trust Structured Credit Income Opportunities ETF (NYSEARCA:SCIO) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 452,712 shares, a growth of 1,158.1% from the May 14th total of 35,985 shares. Based on an average daily volume of 200,723 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ferguson Shapiro LLC lifted its holdings in First Trust Structured Credit Income Opportunities ETF by 7.6% in the first quarter. Ferguson Shapiro LLC now owns 837,868 shares of the company’s stock valued at $17,294,000 after acquiring an additional 59,146 shares during the last quarter. Strategic Planning Group LLC raised its position in First Trust Structured Credit Income Opportunities ETF by 7.5% in the fourth quarter. Strategic Planning Group LLC now owns 788,845 shares of the company’s stock valued at $16,408,000 after purchasing an additional 54,961 shares during the period. Kestra Advisory Services LLC raised its position in First Trust Structured Credit Income Opportunities ETF by 2,317.8% in the first quarter. Kestra Advisory Services LLC now owns 568,187 shares of the company’s stock valued at $11,727,000 after purchasing an additional 544,687 shares during the period. Capital Investment Counsel LLC raised its position in 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 purchasing an additional 343,046 shares during the period. Finally, Royal Bank of Canada purchased a new stake in First Trust Structured Credit Income Opportunities ETF in the first quarter valued at approximately $8,006,000. 0.83% of the stock is currently owned by institutional investors and hedge funds.

First Trust Structured Credit Income Opportunities ETF Stock Up 0.1%

SCIO traded up $0.03 during trading on Tuesday, reaching $20.63. The company’s stock had a trading volume of 77,604 shares, compared to its average volume of 205,417. The firm has a fifty day simple moving average of $20.66 and a two-hundred day simple moving average of $20.76. First Trust Structured Credit Income Opportunities ETF has a 1 year low of $20.40 and a 1 year high of $21.69. The company has a market cap of $352.77 million, a price-to-earnings ratio of -272.46 and a beta of 0.07.

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.