Short Interest in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Rises By 431.4%

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 519,480 shares, a growth of 431.4% from the December 31st total of 97,754 shares. Based on an average trading volume of 405,510 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the company’s stock are short sold. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 405,510 shares, the days-to-cover ratio is presently 1.3 days.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA:FPEI opened at $19.46 on Friday. The business has a fifty day moving average price of $19.41 and a 200-day moving average price of $19.31. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $17.81 and a 1-year high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st will be issued a $0.0913 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a c) annualized dividend and a yield of 5.6%.

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

Several institutional investors and hedge funds have recently made changes to their positions in FPEI. Commonwealth Equity Services LLC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 13.6% in the third quarter. Commonwealth Equity Services LLC now owns 328,185 shares of the company’s stock worth $6,347,000 after acquiring an additional 39,168 shares during the period. Geneos Wealth Management Inc. boosted its position in First Trust Institutional Preferred Securities and Income ETF by 202.3% in the second quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after purchasing an additional 217,079 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 404,680 shares of the company’s stock valued at $7,685,000 after purchasing an additional 202,340 shares during the period. Janney Montgomery Scott LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 16.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 98,297 shares of the company’s stock valued at $1,867,000 after purchasing an additional 13,997 shares during the last quarter. Finally, Integral Investment Advisors Inc. lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 37.9% in the 2nd quarter. Integral Investment Advisors Inc. now owns 587,075 shares of the company’s stock worth $11,149,000 after purchasing an additional 161,461 shares during the period.

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.