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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 177,462 shares, a growth of 78.4% from the July 15th total of 99,451 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 301,395 shares, the days-to-cover ratio is presently 0.6 days.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1%

Shares of NYSEARCA FPEI traded down $0.02 during trading on Monday, reaching $19.17. The company had a trading volume of 38,752 shares, compared to its average volume of 385,661. 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 business’s 50 day moving average price is $19.22 and its 200-day moving average price is $19.26.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 4,539.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock worth $81,499,000 after acquiring an additional 4,112,566 shares during the period. Morgan Stanley lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 11.9% in the 4th quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock valued at $359,450,000 after purchasing an additional 1,976,898 shares during the period. Bank of America Corp DE lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after purchasing an additional 1,364,824 shares during the period. Legacy Edge Advisors LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth $21,779,000. Finally, Smith Chas P & Associates PA Cpas grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% during the fourth quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock worth $46,157,000 after purchasing an additional 989,787 shares during the period.

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.