First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Up 90.2% in July

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 99,451 shares, an increase of 90.2% from the June 30th total of 52,299 shares. Based on an average daily trading volume, of 304,214 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

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

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter valued at $29,000. Arax Advisory Partners purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the fourth quarter valued at about $36,000. Colonial Trust Co SC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 137.5% during the fourth quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock worth $37,000 after acquiring an additional 1,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth about $84,000. Finally, Capital Investment Advisory Services LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 1,876.4% during the fourth quarter. Capital Investment Advisory Services LLC now owns 4,447 shares of the company’s stock worth $86,000 after purchasing an additional 4,222 shares in the last quarter.

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

FPEI opened at $19.05 on Thursday. 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 moving average price of $19.23 and a two-hundred day moving average price of $19.28.

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.