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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw unusually-high trading volume on Thursday . Approximately 4,029,291 shares traded hands during trading, an increase of 1,022% from the previous session’s volume of 359,215 shares.The stock last traded at $18.57 and had previously closed at $18.72.

First Trust Institutional Preferred Securities and Income ETF Stock Down 1.7 %

The company has a 50 day moving average of $18.75 and a 200-day moving average of $18.81.

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

Several hedge funds have recently made changes to their positions in the business. Park National Corp OH lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 10.8% in the first quarter. Park National Corp OH now owns 67,555 shares of the company’s stock worth $1,263,000 after acquiring an additional 6,575 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 55.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,095 shares of the company’s stock valued at $320,000 after buying an additional 6,117 shares during the period. TFR Capital LLC. bought a new position in First Trust Institutional Preferred Securities and Income ETF in the fourth quarter worth about $214,000. Leigh Baldwin & CO. LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the fourth quarter worth about $239,000. Finally, Integrated Advisors Network LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at approximately $320,000.

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.