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

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 309,447 shares, a drop of 54.0% from the June 15th total of 672,114 shares. Based on an average daily trading volume, of 1,038,473 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

First Trust Preferred Securities and Income ETF Price Performance

First Trust Preferred Securities and Income ETF stock remained flat at $17.92 on Tuesday. 294,155 shares of the company’s stock were exchanged, compared to its average volume of 1,367,815. First Trust Preferred Securities and Income ETF has a 52-week low of $17.54 and a 52-week high of $18.51. The company’s fifty day moving average is $17.98 and its two-hundred day moving average is $18.10.

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

A number of institutional investors have recently made changes to their positions in FPE. Jane Street Group LLC grew its holdings in First Trust Preferred Securities and Income ETF by 53.0% in the 1st quarter. Jane Street Group LLC now owns 262,995 shares of the company’s stock valued at $4,626,000 after buying an additional 91,118 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of First Trust Preferred Securities and Income ETF by 0.9% during the second quarter. First Trust Advisors LP now owns 163,544 shares of the company’s stock worth $2,911,000 after buying an additional 1,496 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of First Trust Preferred Securities and Income ETF during the second quarter worth approximately $249,000. NewEdge Advisors LLC boosted its position in shares of First Trust Preferred Securities and Income ETF by 2.5% in the second quarter. NewEdge Advisors LLC now owns 371,865 shares of the company’s stock valued at $6,619,000 after acquiring an additional 9,236 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of First Trust Preferred Securities and Income ETF in the second quarter valued at approximately $263,000.

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.