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 in 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. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 1,038,473 shares, the days-to-cover ratio is currently 0.3 days.

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

Several institutional investors have recently bought and sold shares of the stock. World Investment Advisors acquired a new stake in First Trust Preferred Securities and Income ETF in the 4th quarter worth approximately $526,000. Econ Financial Services Corp acquired a new position in First Trust Preferred Securities and Income ETF during the fourth quarter valued at approximately $2,129,000. Juno Financial Group LLC acquired a new position in First Trust Preferred Securities and Income ETF during the fourth quarter valued at approximately $5,561,000. Appleton Partners Inc. MA grew its holdings in First Trust Preferred Securities and Income ETF by 26.5% during the fourth quarter. Appleton Partners Inc. MA now owns 203,925 shares of the company’s stock valued at $3,716,000 after purchasing an additional 42,681 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of First Trust Preferred Securities and Income ETF by 17.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 427,459 shares of the company’s stock valued at $7,788,000 after purchasing an additional 62,762 shares during the period.

First Trust Preferred Securities and Income ETF Stock Performance

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

First Trust Preferred Securities and Income ETF Company Profile

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.