First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Short Interest Up 277.4% in April

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 649,229 shares, an increase of 277.4% from the April 15th total of 172,027 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 1,244,932 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gateway Wealth Partners LLC grew its stake in shares of First Trust Preferred Securities and Income ETF by 115.7% during the first quarter. Gateway Wealth Partners LLC now owns 41,238 shares of the company’s stock valued at $732,000 after buying an additional 22,124 shares during the last quarter. Everest Financial Group LLC bought a new position in shares of First Trust Preferred Securities and Income ETF during the first quarter valued at about $304,000. Matrix Private Capital Group LLC bought a new position in shares of First Trust Preferred Securities and Income ETF during the first quarter valued at about $605,000. Waverly Advisors LLC grew its stake in shares of First Trust Preferred Securities and Income ETF by 3.6% during the first quarter. Waverly Advisors LLC now owns 804,883 shares of the company’s stock valued at $14,287,000 after buying an additional 27,957 shares during the last quarter. Finally, Hilltop Holdings Inc. bought a new position in shares of First Trust Preferred Securities and Income ETF during the first quarter valued at about $193,000.

First Trust Preferred Securities and Income ETF Stock Down 0.4%

FPE traded down $0.08 during trading on Friday, reaching $18.02. The stock had a trading volume of 1,166,212 shares, compared to its average volume of 1,520,308. First Trust Preferred Securities and Income ETF has a one year low of $17.33 and a one year high of $18.51. The business has a 50-day moving average of $18.01 and a 200-day moving average of $18.20.

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.