IFP Advisors Inc bought a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 50,017 shares of the company’s stock, valued at approximately $922,000.
A number of other large investors also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after acquiring an additional 1,364,824 shares during the period. Royal Bank of Canada boosted its position 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 worth $102,128,000 after buying an additional 351,265 shares during the period. Annex Advisory Services LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 6.2% in the third quarter. Annex Advisory Services LLC now owns 1,217,165 shares of the company’s stock valued at $22,445,000 after acquiring an additional 70,956 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.8% in the first quarter. Citizens Financial Group Inc. RI now owns 996,035 shares of the company’s stock valued at $18,925,000 after buying an additional 27,511 shares in the last quarter. Finally, Essex LLC lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 0.6% in the first quarter. Essex LLC now owns 645,831 shares of the company’s stock valued at $12,271,000 after buying an additional 3,573 shares during the last quarter.
First Trust Institutional Preferred Securities and Income ETF Trading Down 0.3%
Shares of NYSEARCA FPEI opened at $18.31 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.30 and a 1-year high of $19.61. The business’s 50 day moving average is $18.75 and its 200-day moving average is $19.06.
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.
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Want to see what other hedge funds are holding FPEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI – Free Report).
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