First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Down 39.8% in March

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 215,413 shares, a decrease of 39.8% from the February 26th total of 358,006 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 469,421 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.3%

Shares of First Trust Institutional Preferred Securities and Income ETF stock traded down $0.06 during trading hours on Friday, hitting $18.74. 666,174 shares of the company’s stock traded hands, compared to its average volume of 434,113. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.61. The company has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $19.39.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a dividend of $0.0855 per share. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, February 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter valued at approximately $29,000. Arax Advisory Partners purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the fourth quarter valued at $36,000. Colonial Trust Co SC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 137.5% during the 4th quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $37,000 after purchasing an additional 1,100 shares during the period. AE Wealth Management LLC lifted its holdings in First Trust Institutional Preferred Securities and Income ETF by 147.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock worth $53,000 after purchasing an additional 1,625 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth about $84,000.

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.