First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Unusually-High Trading Volume – Time to Buy?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares saw unusually-high trading volume on Monday . Approximately 1,098,252 shares were traded during mid-day trading, an increase of 160% from the previous session’s volume of 422,380 shares.The stock last traded at $19.4850 and had previously closed at $19.48.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The business has a 50 day moving average of $19.43 and a 200 day moving average of $19.34.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were paid a dividend of $0.0913 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, January 21st.

Hedge Funds Weigh In On First Trust Institutional Preferred Securities and Income ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in First Trust Institutional Preferred Securities and Income ETF by 4,539.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock valued at $81,499,000 after purchasing an additional 4,112,566 shares during the last quarter. Montis Financial LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 14,194.9% in the 3rd quarter. Montis Financial LLC now owns 1,568,581 shares of the company’s stock valued at $30,336,000 after buying an additional 1,557,608 shares during the period. Legacy Edge Advisors LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at about $21,779,000. Smith Chas P & Associates PA Cpas lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock worth $46,157,000 after acquiring an additional 989,787 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 103.1% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,259,000 shares of the company’s stock worth $24,349,000 after acquiring an additional 639,000 shares during the period.

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.