First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Unusually-High Trading Volume – What’s Next?

Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw an uptick in trading volume on Thursday . 2,065,626 shares changed hands during trading, an increase of 428% from the previous session’s volume of 391,406 shares.The stock last traded at $19.06 and had previously closed at $19.09.

First Trust Institutional Preferred Securities and Income ETF Price Performance

The stock’s 50 day simple moving average is $19.20 and its 200 day simple moving average is $19.24.

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

A number of hedge funds and other institutional investors have recently modified their holdings of FPEI. Smith Chas P & Associates PA Cpas raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% in the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock valued at $46,157,000 after purchasing an additional 989,787 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 4,539.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock valued at $81,499,000 after purchasing an additional 4,112,566 shares in the last quarter. UBS Group AG lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 2.0% in the 4th quarter. UBS Group AG now owns 9,002,698 shares of the company’s stock valued at $174,562,000 after buying an additional 175,526 shares in the last quarter. TrueWealth Financial Partners purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth $2,160,000. Finally, Flynn Zito Capital Management LLC boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 52.2% during the 1st quarter. Flynn Zito Capital Management LLC now owns 170,481 shares of the company’s stock worth $3,239,000 after purchasing an additional 58,438 shares during the last quarter.

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.