First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Strong Trading Volume – Here’s Why

Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw an uptick in trading volume on Tuesday . 2,028,784 shares traded hands during mid-day trading, an increase of 345% from the previous session’s volume of 455,492 shares.The stock last traded at $18.98 and had previously closed at $18.81.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.3%

The company’s 50-day moving average price is $19.35 and its 200-day moving average price is $19.38.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.0855 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 5.4%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter valued at approximately $29,000. Arax Advisory Partners bought 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 grew its position in First Trust Institutional Preferred Securities and Income ETF by 137.5% in the fourth quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $37,000 after purchasing an additional 1,100 shares in the last quarter. AE Wealth Management LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 147.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $53,000 after buying an additional 1,625 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth about $84,000.

First Trust Institutional Preferred Securities and Income ETF Company Profile

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.