Short Interest in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Drops By 62.4%

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 97,754 shares, a drop of 62.4% from the December 15th total of 260,308 shares. Based on an average daily trading volume, of 339,656 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 339,656 shares, the days-to-cover ratio is presently 0.3 days.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.2%

Shares of NYSEARCA:FPEI traded up $0.04 on Wednesday, hitting $19.51. The stock had a trading volume of 362,075 shares, compared to its average volume of 418,964. The firm’s 50 day moving average price is $19.39 and its 200-day moving average price is $19.28. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Announces Dividend

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

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FPEI. AE Wealth Management LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 147.3% in the third quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock worth $53,000 after purchasing an additional 1,625 shares during the period. Centaurus Financial Inc. bought a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $107,000. Greenwood Capital Associates LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter worth about $202,000. Calton & Associates Inc. acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $204,000. Finally, Montis Financial LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter valued at $208,000.

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.