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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw an uptick in trading volume on Thursday . 2,065,626 shares traded hands during trading, an increase of 428% from the previous session’s volume of 391,406 shares.The stock last traded at $19.06 and had previously closed at $19.09.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The stock’s fifty day moving average price is $19.20 and its two-hundred day moving average price is $19.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter valued at approximately $29,000. Arax Advisory Partners bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at $36,000. Colonial Trust Co SC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 137.5% in the 4th quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock worth $37,000 after purchasing an additional 1,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth $84,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at approximately $88,000.

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.