First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Short Interest Update

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 519,480 shares, an increase of 431.4% from the December 31st total of 97,754 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 405,510 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 405,510 shares, the short-interest ratio is currently 1.3 days. Currently, 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 13.6% during the third quarter. Commonwealth Equity Services LLC now owns 328,185 shares of the company’s stock worth $6,347,000 after buying an additional 39,168 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 202.3% in the second quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after acquiring an additional 217,079 shares during the last quarter. Synergy Asset Management LLC lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 100.0% in the third quarter. Synergy Asset Management LLC now owns 404,680 shares of the company’s stock worth $7,685,000 after acquiring an additional 202,340 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 16.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 98,297 shares of the company’s stock valued at $1,867,000 after purchasing an additional 13,997 shares during the last quarter. Finally, Integral Investment Advisors Inc. increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 37.9% in the 2nd quarter. Integral Investment Advisors Inc. now owns 587,075 shares of the company’s stock valued at $11,149,000 after purchasing an additional 161,461 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

Shares of FPEI stock opened at $19.44 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $17.81 and a 1-year high of $19.53. The company has a 50-day moving average of $19.41 and a two-hundred day moving average of $19.31.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 21st will be issued a $0.0913 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Wednesday, January 21st.

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.