First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Large Volume Increase – Still a Buy?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw unusually-high trading volume on Tuesday . Approximately 2,028,784 shares were traded during trading, an increase of 345% from the previous session’s volume of 455,492 shares.The stock last traded at $18.98 and had previously closed at $18.81.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.9%

The business has a fifty day moving average of $19.36 and a 200 day moving average of $19.39.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were paid a $0.0855 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, February 20th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in First Trust Institutional Preferred Securities and Income ETF by 11.9% in the fourth quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock worth $359,450,000 after purchasing an additional 1,976,898 shares in the last quarter. UBS Group AG lifted its holdings in First Trust Institutional Preferred Securities and Income ETF by 2.0% during the 4th quarter. UBS Group AG now owns 9,002,698 shares of the company’s stock worth $174,562,000 after buying an additional 175,526 shares during the last quarter. Royal Bank of Canada lifted its holdings in First Trust Institutional Preferred Securities and Income ETF by 5.2% during the 4th quarter. Royal Bank of Canada now owns 5,023,950 shares of the company’s stock worth $97,415,000 after buying an additional 249,812 shares during the last quarter. Bank of America Corp DE grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 4.6% in the 3rd quarter. Bank of America Corp DE now owns 4,544,959 shares of the company’s stock worth $87,900,000 after acquiring an additional 200,889 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 2.0% in the 4th quarter. LPL Financial LLC now owns 4,355,471 shares of the company’s stock valued at $84,453,000 after acquiring an additional 85,475 shares during the last quarter.

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.