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 decline in short interest in the month of May. As of May 15th, there was short interest totaling 273,525 shares, a decline of 57.9% from the April 30th total of 649,229 shares. Based on an average daily trading volume, of 1,018,694 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC boosted its stake in First Trust Preferred Securities and Income ETF by 6.1% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 86,076 shares of the company’s stock valued at $1,528,000 after purchasing an additional 4,953 shares during the period. Bank of America Corp DE boosted its stake in First Trust Preferred Securities and Income ETF by 5.4% during the 1st quarter. Bank of America Corp DE now owns 8,652,282 shares of the company’s stock valued at $153,578,000 after purchasing an additional 446,585 shares during the period. Centaurus Financial Inc. boosted its stake in First Trust Preferred Securities and Income ETF by 18.8% during the 1st quarter. Centaurus Financial Inc. now owns 23,461 shares of the company’s stock valued at $416,000 after purchasing an additional 3,709 shares during the period. Arkadios Wealth Advisors boosted its stake in First Trust Preferred Securities and Income ETF by 6.0% during the 1st quarter. Arkadios Wealth Advisors now owns 58,634 shares of the company’s stock valued at $1,041,000 after purchasing an additional 3,302 shares during the period. Finally, IFS Group LLC acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 1st quarter worth approximately $427,000.

First Trust Preferred Securities and Income ETF Trading Down 0.1%

Shares of NYSEARCA FPE traded down $0.02 during midday trading on Tuesday, hitting $18.00. The company’s stock had a trading volume of 985,050 shares, compared to its average volume of 1,473,009. The firm’s fifty day moving average price is $17.99 and its 200-day moving average price is $18.17. First Trust Preferred Securities and Income ETF has a 1-year low of $17.50 and a 1-year high of $18.51.

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.