First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Unusually-High Trading Volume – Should You Buy?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares saw unusually-strong trading volume on Tuesday. 961,959 shares were traded during trading, an increase of 131% from the previous session’s volume of 417,327 shares. The stock last traded at $18.4950 and had previously closed at $18.42.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The company’s fifty day moving average price is $18.91 and its two-hundred day moving average price is $19.10.

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

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after purchasing an additional 1,364,824 shares during the period. Royal Bank of Canada lifted its position 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 period. Annex Advisory Services LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 11.8% in the 2nd quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock valued at $22,110,000 after purchasing an additional 120,692 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 996,035 shares of the company’s stock valued at $18,925,000 after purchasing an additional 27,511 shares during the last quarter. Finally, Essex LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 0.6% during the 1st quarter. Essex LLC now owns 645,831 shares of the company’s stock worth $12,271,000 after buying an additional 3,573 shares during the period.

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.