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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 139,700 shares, an increase of 162.1% from the September 15th total of 53,300 shares. Based on an average trading volume of 331,200 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 331,200 shares, the short-interest ratio is presently 0.4 days.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of FPEI opened at $19.49 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $17.81 and a 1-year high of $19.51. The firm has a fifty day moving average price of $19.29 and a 200 day moving average price of $18.91.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC lifted its position in First Trust Institutional Preferred Securities and Income ETF by 9.1% in the first quarter. LPL Financial LLC now owns 3,837,937 shares of the company’s stock valued at $71,769,000 after acquiring an additional 319,485 shares during the last quarter. Royal Bank of Canada lifted its position in First Trust Institutional Preferred Securities and Income ETF by 11.9% in the first quarter. Royal Bank of Canada now owns 3,334,754 shares of the company’s stock valued at $62,360,000 after acquiring an additional 355,102 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,463,341 shares of the company’s stock valued at $46,064,000 after buying an additional 375,497 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 5.0% in the second quarter. NewEdge Advisors LLC now owns 2,361,031 shares of the company’s stock valued at $44,836,000 after buying an additional 113,399 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 2.2% in the second quarter. Smith Chas P & Associates PA Cpas now owns 2,292,114 shares of the company’s stock valued at $43,527,000 after buying an additional 49,272 shares during 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.