First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO) Share Price Passes Below 200-Day Moving Average – Time to Sell?

First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.76 and traded as low as $20.72. First Trust Structured Credit Income Opportunities ETF shares last traded at $20.78, with a volume of 96,868 shares trading hands.

First Trust Structured Credit Income Opportunities ETF Price Performance

The stock has a 50-day moving average price of $20.80 and a 200-day moving average price of $20.76. The company has a market capitalization of $69.61 million, a price-to-earnings ratio of -274.44 and a beta of 0.08.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Planning Group LLC acquired a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the 3rd quarter worth about $15,232,000. Foundations Investment Advisors LLC acquired a new stake in First Trust Structured Credit Income Opportunities ETF during the third quarter worth approximately $4,045,000. Delta Investment Management LLC bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the third quarter worth approximately $3,565,000. Philip James Wealth Mangement LLC bought a new stake in shares of First Trust Structured Credit Income Opportunities ETF during the third quarter worth approximately $3,084,000. Finally, Atria Investments Inc acquired a new position in shares of First Trust Structured Credit Income Opportunities ETF in the third quarter valued at approximately $1,697,000. 0.83% of the stock is currently owned by institutional investors and hedge funds.

First Trust Structured Credit Income Opportunities ETF Company Profile

First Trust Structured Credit Income Opportunities ETF (OTCMKTS:SCIO) is an actively managed exchange-traded fund designed to provide investors with exposure to structured credit markets. The fund is sponsored by First Trust Advisors L.P., a subsidiary of First Trust Portfolios L.P., and seeks to generate attractive risk-adjusted income through investments in collateralized loan obligations (CLOs) and other structured credit instruments.

The ETF primarily allocates capital to senior secured and investment-grade tranches of CLOs, aiming to benefit from the floating-rate nature of underlying corporate loans and the structural credit enhancements within CLO vehicles.