First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Significant Decrease in Short Interest

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 21,515 shares, a drop of 83.3% from the August 31st total of 129,131 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 377,837 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1%

First Trust Institutional Preferred Securities and Income ETF stock traded down $0.01 during mid-day trading on Friday, hitting $18.57. The stock had a trading volume of 61,040 shares, compared to its average volume of 401,828. First Trust Institutional Preferred Securities and Income ETF has a one year low of $18.57 and a one year high of $19.61. The firm’s 50 day moving average is $19.03 and its 200 day moving average is $19.15.

Institutional Investors Weigh In On First Trust Institutional Preferred Securities and Income ETF

Several institutional investors have recently added to or reduced their stakes in FPEI. Compass Financial Management LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter worth $993,000. Annex Advisory Services LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 11.8% during the 2nd quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock worth $22,110,000 after acquiring an additional 120,692 shares in the last quarter. Integral Investment Advisors Inc. boosted its position in First Trust Institutional Preferred Securities and Income ETF by 1.3% during the second quarter. Integral Investment Advisors Inc. now owns 623,023 shares of the company’s stock worth $12,018,000 after purchasing an additional 8,100 shares in the last quarter. Bank of America Corp DE grew its stake in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after acquiring an additional 1,364,824 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 84.6% during the first quarter. Arkadios Wealth Advisors now owns 39,829 shares of the company’s stock worth $757,000 after purchasing an additional 18,258 shares in the last quarter.

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.