First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Update

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 152,819 shares, a growth of 126.9% from the May 14th total of 67,364 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 388,259 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On First Trust Institutional Preferred Securities and Income ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 11.9% during the 4th quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock valued at $359,450,000 after purchasing an additional 1,976,898 shares during the last quarter. UBS Group AG boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 2.0% during the 4th quarter. UBS Group AG now owns 9,002,698 shares of the company’s stock valued at $174,562,000 after purchasing an additional 175,526 shares during the last quarter. Bank of America Corp DE boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 29.3% during the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after purchasing an additional 1,364,824 shares during the last quarter. Royal Bank of Canada boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 7.0% during the 1st quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock valued at $102,128,000 after purchasing an additional 351,265 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 2.0% during the 4th quarter. LPL Financial LLC now owns 4,355,471 shares of the company’s stock valued at $84,453,000 after purchasing an additional 85,475 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

FPEI stock opened at $19.25 on Monday. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $18.71 and a 52-week high of $19.61. The business has a 50-day simple moving average of $19.22 and a two-hundred day simple moving average of $19.32.

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.