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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 177,462 shares, a growth of 78.4% from the July 15th total of 99,451 shares. Based on an average trading volume of 301,395 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF during the first quarter worth approximately $1,520,000. First Trust Advisors LP boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 7.9% in the 2nd quarter. First Trust Advisors LP now owns 262,064 shares of the company’s stock valued at $4,977,000 after purchasing an additional 19,155 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% during the 2nd quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock valued at $38,112,000 after buying an additional 222,032 shares during the period. Vista Investment Management grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 3.6% during the 2nd quarter. Vista Investment Management now owns 265,973 shares of the company’s stock valued at $5,051,000 after buying an additional 9,203 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 7.4% during the 2nd quarter. MML Investors Services LLC now owns 38,636 shares of the company’s stock valued at $734,000 after buying an additional 2,676 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPEI traded down $0.03 during trading on Tuesday, reaching $19.12. The company had a trading volume of 68,058 shares, compared to its average volume of 388,997. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $18.71 and a twelve month high of $19.61. The stock has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $19.26.

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.