Short Interest in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Declines By 57.9%

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 273,525 shares, a decline of 57.9% from the April 30th total of 649,229 shares. Based on an average daily volume of 1,018,694 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

First Trust Preferred Securities and Income ETF Trading Down 0.1%

FPE traded down $0.02 during trading hours on Monday, hitting $18.00. The company’s stock had a trading volume of 985,050 shares, compared to its average volume of 1,473,009. The business’s 50-day moving average price is $17.99 and its 200-day moving average price is $18.17. First Trust Preferred Securities and Income ETF has a 12 month low of $17.50 and a 12 month high of $18.51.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FPE. Ascentis Independent Advisors purchased a new position in shares of First Trust Preferred Securities and Income ETF in the 1st quarter worth approximately $29,000. Brown Brothers Harriman & Co. bought a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter worth $39,000. Rossby Financial LCC boosted its stake in First Trust Preferred Securities and Income ETF by 469.7% during the third quarter. Rossby Financial LCC now owns 2,347 shares of the company’s stock worth $43,000 after buying an additional 1,935 shares during the period. Ameriflex Group Inc. boosted its stake in First Trust Preferred Securities and Income ETF by 339.3% during the third quarter. Ameriflex Group Inc. now owns 2,372 shares of the company’s stock worth $43,000 after buying an additional 1,832 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in First Trust Preferred Securities and Income ETF during the fourth quarter valued at $45,000.

First Trust Preferred Securities and Income ETF Company Profile

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum. FPE was launched on Feb 12, 2013 and is managed by First Trust.