First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Short Interest Update

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 273,525 shares, a drop of 57.9% from the April 30th total of 649,229 shares. Based on an average daily volume of 1,018,694 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its position in First Trust Preferred Securities and Income ETF by 7.5% in the third quarter. Ameritas Investment Partners Inc. now owns 628,645 shares of the company’s stock worth $11,466,000 after acquiring an additional 44,103 shares during the period. Citigroup Inc. grew its position in First Trust Preferred Securities and Income ETF by 17.2% in the third quarter. Citigroup Inc. now owns 985,145 shares of the company’s stock worth $17,969,000 after acquiring an additional 144,720 shares during the period. Econ Financial Services Corp purchased a new position in First Trust Preferred Securities and Income ETF in the fourth quarter worth approximately $2,129,000. Vestmark Advisory Solutions Inc. purchased a new position in First Trust Preferred Securities and Income ETF in the third quarter worth approximately $3,403,000. Finally, Stratos Wealth Partners LTD. grew its position in First Trust Preferred Securities and Income ETF by 17.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 427,459 shares of the company’s stock worth $7,788,000 after acquiring an additional 62,762 shares during the period.

First Trust Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA:FPE remained flat at $18.02 during midday trading on Friday. The company had a trading volume of 1,105,362 shares, compared to its average volume of 1,477,794. First Trust Preferred Securities and Income ETF has a 12-month low of $17.50 and a 12-month high of $18.51. The firm’s fifty day moving average is $17.99 and its 200-day moving average is $18.17.

First Trust Preferred Securities and Income ETF Company Profile

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum. FPE was launched on Feb 12, 2013 and is managed by First Trust.