Royal Bank of Canada Buys 351,265 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Royal Bank of Canada grew its stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,375,215 shares of the company’s stock after buying an additional 351,265 shares during the period. Royal Bank of Canada owned approximately 0.05% of First Trust Institutional Preferred Securities and Income ETF worth $102,128,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FPEI. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 4,539.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock valued at $81,499,000 after acquiring an additional 4,112,566 shares during the last quarter. Morgan Stanley lifted its holdings in First Trust Institutional Preferred Securities and Income ETF by 11.9% in the 4th quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock worth $359,450,000 after purchasing an additional 1,976,898 shares during the last quarter. Legacy Edge Advisors LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth approximately $21,779,000. Smith Chas P & Associates PA Cpas boosted its position in First Trust Institutional Preferred Securities and Income ETF by 71.2% during 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 purchasing an additional 989,787 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 12.4% during the second quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock valued at $38,112,000 after purchasing an additional 222,032 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of FPEI stock opened at $19.08 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $18.71 and a 12 month high of $19.61. The business’s 50 day moving average is $19.23 and its two-hundred day moving average is $19.28.

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.