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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 152,819 shares, a growth of 126.9% from the May 14th total of 67,364 shares. Based on an average daily trading volume, of 388,259 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the fourth quarter valued at $29,000. Arax Advisory Partners acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth about $36,000. Colonial Trust Co SC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 137.5% during the 4th quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $37,000 after buying an additional 1,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at about $84,000. Finally, Capital Investment Advisory Services LLC lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 1,876.4% in the 4th quarter. Capital Investment Advisory Services LLC now owns 4,447 shares of the company’s stock valued at $86,000 after buying an additional 4,222 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPEI opened at $19.25 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $18.71 and a 12 month high of $19.61. The company has a 50 day simple moving average of $19.22 and a two-hundred day simple moving average of $19.32.

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.