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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw strong trading volume on Friday . Approximately 465,209 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 401,381 shares.The stock last traded at $18.8450 and had previously closed at $18.87.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The stock’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $19.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FPEI. Bank of America Corp DE grew its position in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after purchasing an additional 1,364,824 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 7.0% in the 1st quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock worth $102,128,000 after buying an additional 351,265 shares during the last quarter. Smith Chas P & Associates PA Cpas grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock valued at $46,157,000 after acquiring an additional 989,787 shares in the last quarter. Montis Financial LLC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 10.6% in the fourth quarter. Montis Financial LLC now owns 1,735,426 shares of the company’s stock valued at $33,650,000 after acquiring an additional 166,845 shares in the last quarter. Finally, Annex Advisory Services LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 11.8% during the second quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock valued at $22,110,000 after acquiring an additional 120,692 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.