Short Interest in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Drops By 54.0%

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 309,447 shares, a drop of 54.0% from the June 15th total of 672,114 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 1,038,473 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of First Trust Preferred Securities and Income ETF

Hedge funds have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC grew its position in First Trust Preferred Securities and Income ETF by 18.1% during the second quarter. Wealthcare Advisory Partners LLC now owns 13,062 shares of the company’s stock valued at $234,000 after buying an additional 2,000 shares during the period. Allied Private Wealth LLC acquired a new stake in shares of First Trust Preferred Securities and Income ETF during the 2nd quarter valued at about $30,000. Gradient Investments LLC increased its stake in shares of First Trust Preferred Securities and Income ETF by 3.0% in the 2nd quarter. Gradient Investments LLC now owns 436,935 shares of the company’s stock valued at $7,812,000 after purchasing an additional 12,790 shares in the last quarter. TrueWealth Advisors LLC raised its holdings in First Trust Preferred Securities and Income ETF by 1.7% in the 2nd quarter. TrueWealth Advisors LLC now owns 57,323 shares of the company’s stock worth $1,025,000 after purchasing an additional 947 shares during the period. Finally, Puff Wealth Management LLC acquired a new position in First Trust Preferred Securities and Income ETF in the 2nd quarter worth about $824,000.

First Trust Preferred Securities and Income ETF Trading Down 0.1%

First Trust Preferred Securities and Income ETF stock traded down $0.01 during mid-day trading on Thursday, hitting $17.94. The company had a trading volume of 755,833 shares, compared to its average volume of 1,363,115. First Trust Preferred Securities and Income ETF has a 12-month low of $17.54 and a 12-month high of $18.51. The company’s fifty day moving average is $17.97 and its 200-day moving average is $18.10.

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.