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 unusually-strong trading volume on Wednesday . Approximately 1,302,424 shares were traded during trading, an increase of 143% from the previous session’s volume of 535,194 shares.The stock last traded at $18.67 and had previously closed at $18.57.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.5 %

The business has a fifty day moving average of $18.77 and a 200-day moving average of $18.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 202.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 933,926 shares of the company’s stock worth $17,810,000 after buying an additional 625,087 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 38.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 617,850 shares of the company’s stock worth $11,782,000 after buying an additional 171,730 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of 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 buying an additional 108,761 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth approximately $1,468,000. Finally, CWM LLC grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 121.1% in the 3rd quarter. CWM LLC now owns 138,360 shares of the company’s stock worth $2,639,000 after buying an additional 75,793 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.