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

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) saw unusually-high trading volume on Wednesday . Approximately 1,302,424 shares traded hands during mid-day 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 Stock Performance

The business has a 50-day moving average price of $18.77 and a 200-day moving average price of $18.75.

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

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 8.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,388,483 shares of the company’s stock valued at $25,506,000 after acquiring an additional 108,761 shares in the last quarter. Key Financial Inc lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 8.3% during the 3rd quarter. Key Financial Inc now owns 968,389 shares of the company’s stock valued at $18,467,000 after purchasing an additional 74,532 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 625,087 shares in the last quarter. Truist Financial Corp grew its stake in First Trust Institutional Preferred Securities and Income ETF by 4.2% during the 2nd quarter. Truist Financial Corp now owns 764,290 shares of the company’s stock worth $14,040,000 after buying an additional 30,547 shares during the last quarter. Finally, Adamsbrown Wealth Consultants LLC grew its stake in First Trust Institutional Preferred Securities and Income ETF by 6.1% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 658,323 shares of the company’s stock worth $12,554,000 after buying an additional 37,664 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.