First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Stock Short Interest Drops 83.3%

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 21,515 shares, a decline of 83.3% from the August 31st total of 129,131 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 377,837 shares, the days-to-cover ratio is currently 0.1 days.

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

Shares of NYSEARCA FPEI traded down $0.01 during trading on Friday, hitting $18.57. 61,040 shares of the company were exchanged, compared to its average volume of 401,828. The company has a fifty day moving average price of $19.03 and a 200-day moving average price of $19.15. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $18.57 and a 12-month high of $19.61.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

A number of institutional investors have recently bought and sold shares of FPEI. Bank of America Corp DE increased its stake in First Trust Institutional Preferred Securities and Income ETF by 29.3% in 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 in the last quarter. Smith Chas P & Associates PA Cpas lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 71.2% in the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock valued at $46,157,000 after buying an additional 989,787 shares in the last quarter. Royal Bank of Canada grew its holdings 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 buying an additional 351,265 shares during the last quarter. Baer Investment Advisory LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the first quarter worth $3,533,000. Finally, Montis Financial LLC raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 10.6% in the fourth quarter. Montis Financial LLC now owns 1,735,426 shares of the company’s stock worth $33,650,000 after acquiring an additional 166,845 shares during the last quarter.

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.