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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares saw unusually-strong trading volume on Monday . Approximately 302,646 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 312,298 shares.The stock last traded at $18.81 and had previously closed at $18.82.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1 %

The stock’s 50 day moving average is $18.86 and its 200 day moving average is $18.70.

Institutional Investors Weigh In On First Trust Institutional Preferred Securities and Income ETF

Several hedge funds and other institutional investors have recently bought and sold shares of FPEI. Synovus Financial Corp lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 53.2% during the third quarter. Synovus Financial Corp now owns 29,836 shares of the company’s stock valued at $569,000 after purchasing an additional 10,361 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $289,000. MML Investors Services LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 21.8% during the third quarter. MML Investors Services LLC now owns 16,341 shares of the company’s stock valued at $312,000 after purchasing an additional 2,925 shares during the last quarter. Jane Street Group LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth $1,468,000. Finally, Stifel Financial Corp grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 28.9% in the third quarter. Stifel Financial Corp now owns 317,864 shares of the company’s stock worth $6,062,000 after acquiring an additional 71,345 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.