First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Shares Sold by Magnus Financial Group LLC

Magnus Financial Group LLC trimmed its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 87.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,086 shares of the company’s stock after selling 330,132 shares during the period. Magnus Financial Group LLC owned 0.08% of First Trust Institutional Preferred Securities and Income ETF worth $875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Raymond James & Associates increased its position in First Trust Institutional Preferred Securities and Income ETF by 0.8% during the third quarter. Raymond James & Associates now owns 526,533 shares of the company’s stock worth $8,888,000 after purchasing an additional 4,429 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in First Trust Institutional Preferred Securities and Income ETF by 4.2% during the third quarter. Stratos Wealth Partners LTD. now owns 47,748 shares of the company’s stock worth $806,000 after purchasing an additional 1,938 shares during the last quarter. Adamsbrown Wealth Consultants LLC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 3.1% during the third quarter. Adamsbrown Wealth Consultants LLC now owns 564,322 shares of the company’s stock worth $9,526,000 after buying an additional 17,134 shares during the period. Miracle Mile Advisors LLC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 11.6% during the third quarter. Miracle Mile Advisors LLC now owns 1,590,763 shares of the company’s stock worth $26,852,000 after buying an additional 165,581 shares during the period. Finally, Dunhill Financial LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 3.2% in the third quarter. Dunhill Financial LLC now owns 40,984 shares of the company’s stock valued at $682,000 after purchasing an additional 1,277 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Price Performance

NYSEARCA FPEI opened at $17.95 on Monday. The firm has a 50 day simple moving average of $18.11 and a 200-day simple moving average of $17.67. First Trust Institutional Preferred Securities and Income ETF has a one year low of $16.39 and a one year high of $18.28.

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.