First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Significant Decline in Short Interest

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 52,299 shares, a decline of 61.2% from the June 15th total of 134,889 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 296,417 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth approximately $29,000. Arax Advisory Partners acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth approximately $36,000. Colonial Trust Co SC lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 137.5% in the 4th quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $37,000 after buying an additional 1,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter valued at approximately $84,000. Finally, Capital Investment Advisory Services LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 1,876.4% during the 4th quarter. Capital Investment Advisory Services LLC now owns 4,447 shares of the company’s stock valued at $86,000 after buying an additional 4,222 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

First Trust Institutional Preferred Securities and Income ETF stock opened at $19.28 on Monday. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $18.71 and a 52 week high of $19.61. The firm’s 50-day simple moving average is $19.25 and its 200 day simple moving average is $19.31.

About First Trust Institutional Preferred Securities and Income ETF

The First Trust Institutional Preferred Securities and Income ETF (FPEI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to provide current income and total return by investing in global institutional preferred and income-producing debt securities. FPEI was launched on Aug 22, 2017 and is managed by First Trust.