Short Interest in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Expands By 78.4%

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 177,462 shares, a growth of 78.4% from the July 15th total of 99,451 shares. Based on an average daily volume of 301,395 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

First Trust Institutional Preferred Securities and Income ETF Price Performance

First Trust Institutional Preferred Securities and Income ETF stock traded down $0.02 during trading hours on Monday, hitting $19.17. 38,752 shares of the stock were exchanged, compared to its average volume of 385,661. 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 business’s 50-day moving average is $19.22 and its two-hundred day moving average is $19.26.

Institutional Inflows and Outflows

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