First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Stock Short Interest Climbs 673.8%

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 166,491 shares, an increase of 673.8% from the September 15th total of 21,515 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 466,442 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Wealth Management LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF during the third quarter worth approximately $570,000. Farther Finance Advisors LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $126,000. Winebrenner Capital Management LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $2,309,000. Elevation Wealth Partners LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth $587,000. Finally, Park National Corp OH boosted its position in First Trust Institutional Preferred Securities and Income ETF by 17.1% during the 3rd quarter. Park National Corp OH now owns 531,455 shares of the company’s stock worth $9,800,000 after purchasing an additional 77,591 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPEI traded up $0.01 during midday trading on Friday, hitting $18.54. The stock had a trading volume of 591,649 shares, compared to its average volume of 424,321. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.30 and a 1-year high of $19.61. The company has a fifty day moving average price of $18.89 and a 200 day moving average price of $19.09.

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.