First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Shares Shorted: Short Interest Up 673.8% in September

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 166,491 shares, an increase of 673.8% from the September 15th total of 21,515 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 466,442 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

NYSEARCA:FPEI traded up $0.01 during trading hours on Friday, hitting $18.54. The stock had a trading volume of 591,649 shares, compared to its average volume of 424,321. The business has a 50 day simple moving average of $18.89 and a two-hundred day simple moving average of $19.09. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.30 and a 1-year high of $19.61.

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

A number of large investors have recently added to or reduced their stakes in FPEI. Capital Advisors Wealth Management LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at about $570,000. Farther Finance Advisors LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth about $126,000. Winebrenner Capital Management LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the third quarter worth about $2,309,000. Elevation Wealth Partners LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at approximately $587,000. Finally, Park National Corp OH grew its stake in First Trust Institutional Preferred Securities and Income ETF by 17.1% during the 3rd quarter. Park National Corp OH now owns 531,455 shares of the company’s stock valued at $9,800,000 after purchasing an additional 77,591 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.