First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Reaches New 52-Week Low – Here’s What Happened

Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) reached a new 52-week low on Thursday . The company traded as low as $18.60 and last traded at $18.5950, with a volume of 6562 shares trading hands. The stock had previously closed at $18.74.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.8%

The company’s 50 day moving average price is $19.04 and its two-hundred day moving average price is $19.15.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

Several institutional investors have recently added to or reduced their stakes in FPEI. Bank of America Corp DE boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% during the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after buying an additional 1,364,824 shares during the period. Royal Bank of Canada grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 7.0% during the first quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock valued at $102,128,000 after buying an additional 351,265 shares during the last quarter. Smith Chas P & Associates PA Cpas raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock worth $46,157,000 after buying an additional 989,787 shares during the period. Montis Financial LLC lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 10.6% during the 4th quarter. Montis Financial LLC now owns 1,735,426 shares of the company’s stock worth $33,650,000 after acquiring an additional 166,845 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 11.8% during the 2nd quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock worth $22,110,000 after acquiring an additional 120,692 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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.