First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Up 126.9% in May

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

Hedge Funds Weigh In On First Trust Institutional Preferred Securities and Income ETF

Several hedge funds have recently modified their holdings of FPEI. Jane Street Group LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the 1st quarter valued at about $1,520,000. First Trust Advisors LP grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 7.9% in the 2nd quarter. First Trust Advisors LP now owns 262,064 shares of the company’s stock valued at $4,977,000 after acquiring an additional 19,155 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% in the 2nd quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock valued at $38,112,000 after acquiring an additional 222,032 shares in the last quarter. Vista Investment Management grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 3.6% in the 2nd quarter. Vista Investment Management now owns 265,973 shares of the company’s stock valued at $5,051,000 after acquiring an additional 9,203 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 7.4% in the 2nd quarter. MML Investors Services LLC now owns 38,636 shares of the company’s stock valued at $734,000 after acquiring an additional 2,676 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

FPEI stock traded down $0.02 during trading hours on Friday, reaching $19.25. 402,331 shares of the stock were exchanged, compared to its average volume of 416,140. The firm’s 50-day moving average is $19.22 and its 200-day moving average is $19.32. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $18.71 and a 12 month high of $19.61.

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.