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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 260,308 shares, a growth of 126.5% from the November 30th total of 114,907 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 253,277 shares, the days-to-cover ratio is presently 1.0 days. Based on an average trading volume of 253,277 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.3% of the shares of the company are short sold.

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

Shares of NYSEARCA FPEI traded down $0.01 during mid-day trading on Friday, reaching $19.40. 308,779 shares of the company’s stock were exchanged, compared to its average volume of 380,921. The firm has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $19.23. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $17.81 and a 52 week high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 21st were issued a $0.0905 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, November 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AE Wealth Management LLC raised its stake in First Trust Institutional Preferred Securities and Income ETF by 147.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $53,000 after acquiring an additional 1,625 shares during the period. Centaurus Financial Inc. bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the third quarter worth $107,000. Greenwood Capital Associates LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the second quarter worth $202,000. Calton & Associates Inc. bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $204,000. Finally, Montis Financial LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 2nd quarter valued at $208,000.

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.