First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Sees Strong Trading Volume – Time to Buy?

Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw unusually-strong trading volume on Monday . Approximately 402,753 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 319,614 shares.The stock last traded at $18.67 and had previously closed at $18.70.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The stock’s 50-day moving average is $18.81 and its 200-day moving average is $18.73.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 14.3% during the 2nd quarter. LPL Financial LLC now owns 2,835,054 shares of the company’s stock worth $52,080,000 after acquiring an additional 353,767 shares during the last quarter. Envestnet Asset Management Inc. raised its position in First Trust Institutional Preferred Securities and Income ETF by 8.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,388,483 shares of the company’s stock worth $25,506,000 after purchasing an additional 108,761 shares during the last quarter. Key Financial Inc boosted its position in First Trust Institutional Preferred Securities and Income ETF by 8.3% in the 3rd quarter. Key Financial Inc now owns 968,389 shares of the company’s stock valued at $18,467,000 after buying an additional 74,532 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 202.4% during the third quarter. JPMorgan Chase & Co. now owns 933,926 shares of the company’s stock valued at $17,810,000 after acquiring an additional 625,087 shares during the period. Finally, Truist Financial Corp increased its position in First Trust Institutional Preferred Securities and Income ETF by 4.2% in the second quarter. Truist Financial Corp now owns 764,290 shares of the company’s stock worth $14,040,000 after purchasing an additional 30,547 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Company Profile

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.