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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares 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 Price Performance

The business’s 50-day moving average is $18.77 and its two-hundred day moving average is $18.81.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FPEI. LPL Financial LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 22.3% during the fourth quarter. LPL Financial LLC now owns 3,518,452 shares of the company’s stock worth $65,795,000 after acquiring an additional 641,323 shares during the period. Royal Bank of Canada increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 1.7% in the 4th quarter. Royal Bank of Canada now owns 2,979,652 shares of the company’s stock valued at $55,720,000 after purchasing an additional 48,838 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 1.8% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 2,158,373 shares of the company’s stock valued at $40,362,000 after purchasing an additional 39,037 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 2.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,087,844 shares of the company’s stock valued at $39,043,000 after acquiring an additional 54,519 shares during the period. Finally, NewEdge Advisors LLC boosted its position in First Trust Institutional Preferred Securities and Income ETF by 8.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,040,509 shares of the company’s stock worth $38,158,000 after purchasing an additional 152,967 shares in 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.