First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Significant Increase in Short Interest

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 302,125 shares, an increase of 70.2% from the July 30th total of 177,462 shares. Based on an average daily trading volume, of 344,308 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.3% of the shares of the stock are sold short.

First Trust Institutional Preferred Securities and Income ETF Price Performance

NYSEARCA FPEI traded down $0.02 during trading on Monday, reaching $19.00. The company’s stock had a trading volume of 739,829 shares, compared to its average volume of 404,106. The firm has a fifty day moving average of $19.18 and a 200 day moving average of $19.23. First Trust Institutional Preferred Securities and Income ETF has a one year low of $18.71 and a one year high of $19.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the first quarter valued at approximately $1,520,000. First Trust Advisors LP increased 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 worth $4,977,000 after buying an additional 19,155 shares during the last quarter. Raymond James Financial Inc. increased 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 worth $38,112,000 after buying an additional 222,032 shares during the last quarter. Vista Investment Management raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 3.6% during the 2nd 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 position in shares of First Trust Institutional Preferred Securities and Income ETF by 7.4% during the 2nd 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 in 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.