First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sees Large Increase in Short Interest

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 672,114 shares, an increase of 150.1% from the May 31st total of 268,784 shares. Based on an average daily volume of 1,052,488 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are sold short.

First Trust Preferred Securities and Income ETF Trading Up 0.2%

Shares of First Trust Preferred Securities and Income ETF stock traded up $0.03 during midday trading on Monday, hitting $17.90. The company had a trading volume of 444,655 shares, compared to its average volume of 1,400,571. First Trust Preferred Securities and Income ETF has a 1-year low of $17.54 and a 1-year high of $18.51. The business’s 50 day simple moving average is $18.02 and its two-hundred day simple moving average is $18.13.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of FPE. Sequoia Financial Advisors LLC boosted its position in First Trust Preferred Securities and Income ETF by 3.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 20,206 shares of the company’s stock valued at $368,000 after buying an additional 628 shares during the last quarter. Visionary Wealth Advisors boosted its holdings in First Trust Preferred Securities and Income ETF by 0.9% in the second quarter. Visionary Wealth Advisors now owns 69,297 shares of the company’s stock valued at $1,233,000 after acquiring an additional 634 shares during the last quarter. Raleigh Capital Management Inc. increased its position in First Trust Preferred Securities and Income ETF by 42.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,507 shares of the company’s stock worth $46,000 after purchasing an additional 752 shares during the period. Centaurus Financial Inc. lifted its position in First Trust Preferred Securities and Income ETF by 7.3% during the 3rd quarter. Centaurus Financial Inc. now owns 11,840 shares of the company’s stock valued at $216,000 after purchasing an additional 810 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 7.2% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,432 shares of the company’s stock valued at $227,000 after purchasing an additional 838 shares during the last quarter.

About First Trust Preferred Securities and Income ETF

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum. FPE was launched on Feb 12, 2013 and is managed by First Trust.