First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Up 90.2% in July

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 99,451 shares, an increase of 90.2% from the June 30th total of 52,299 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 304,214 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Institutional Preferred Securities and Income ETF Price Performance

NYSEARCA:FPEI remained flat at $19.08 during trading hours on Friday. The company’s stock had a trading volume of 329,558 shares, compared to its average volume of 390,994. The business has a 50 day simple moving average of $19.23 and a 200-day simple moving average of $19.28. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $18.71 and a 52-week high of $19.61.

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

Large investors have recently made changes to their positions in the company. Annex Advisory Services LLC grew its stake in First Trust Institutional Preferred Securities and Income ETF by 7.6% during the fourth quarter. Annex Advisory Services LLC now owns 972,278 shares of the company’s stock worth $18,852,000 after buying an additional 68,734 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth approximately $1,514,000. Smith Chas P & Associates PA Cpas grew its position in 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 last quarter. Investment Partners Asset Management Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at $847,000. Finally, Merit Financial Group LLC raised its position in First Trust Institutional Preferred Securities and Income ETF by 12.0% in the 4th quarter. Merit Financial Group LLC now owns 1,852,841 shares of the company’s stock valued at $35,927,000 after purchasing an additional 199,054 shares during the last quarter.

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.