First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Reaches New 12-Month Low – Here’s What Happened

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)’s stock price hit a new 52-week low on Wednesday. The stock traded as low as $18.44 and last traded at $18.48, with a volume of 400109 shares. The stock had previously closed at $18.48.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.2%

The business’s fifty day moving average is $18.96 and its 200-day moving average is $19.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Compass Financial Management LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter worth $993,000. Annex Advisory Services LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 11.8% during the second quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock valued at $22,110,000 after purchasing an additional 120,692 shares during the period. Integral Investment Advisors Inc. grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 1.3% during the second quarter. Integral Investment Advisors Inc. now owns 623,023 shares of the company’s stock valued at $12,018,000 after purchasing an additional 8,100 shares during the period. Bank of America Corp DE increased its position in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after buying an additional 1,364,824 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in First Trust Institutional Preferred Securities and Income ETF by 84.6% in the first quarter. Arkadios Wealth Advisors now owns 39,829 shares of the company’s stock worth $757,000 after buying an additional 18,258 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Company 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.