Northwestern Mutual Wealth Management Co. Purchases 4,112,566 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Northwestern Mutual Wealth Management Co. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 4,539.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,203,161 shares of the company’s stock after acquiring an additional 4,112,566 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $81,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the first quarter worth $1,520,000. First Trust Advisors LP lifted its position in First Trust Institutional Preferred Securities and Income ETF by 7.9% in the second quarter. First Trust Advisors LP now owns 262,064 shares of the company’s stock worth $4,977,000 after buying an additional 19,155 shares during the last quarter. Raymond James Financial Inc. lifted its position in First Trust Institutional Preferred Securities and Income ETF by 12.4% in the second quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock worth $38,112,000 after buying an additional 222,032 shares during the last quarter. Vista Investment Management lifted its position in First Trust Institutional Preferred Securities and Income ETF by 3.6% in the second quarter. Vista Investment Management now owns 265,973 shares of the company’s stock worth $5,051,000 after buying an additional 9,203 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in First Trust Institutional Preferred Securities and Income ETF by 7.4% in the second quarter. MML Investors Services LLC now owns 38,636 shares of the company’s stock worth $734,000 after buying an additional 2,676 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of FPEI opened at $19.22 on Monday. The business has a fifty day moving average of $19.19 and a 200 day moving average of $19.35. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $18.49 and a 52-week high of $19.61.

First Trust Institutional Preferred Securities and Income ETF 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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.