Northwestern Mutual Wealth Management Co. Raises Stock Holdings in First Trust Preferred Securities and Income ETF $FPE

Northwestern Mutual Wealth Management Co. boosted its holdings in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 9.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,194,738 shares of the company’s stock after acquiring an additional 99,273 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Trust Preferred Securities and Income ETF were worth $21,768,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FPE. Rossby Financial LCC raised its position in First Trust Preferred Securities and Income ETF by 469.7% in the 3rd quarter. Rossby Financial LCC now owns 2,347 shares of the company’s stock worth $43,000 after buying an additional 1,935 shares during the last quarter. Ameriflex Group Inc. grew its stake in shares of First Trust Preferred Securities and Income ETF by 339.3% during the 3rd quarter. Ameriflex Group Inc. now owns 2,372 shares of the company’s stock valued at $43,000 after purchasing an additional 1,832 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of First Trust Preferred Securities and Income ETF by 42.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,507 shares of the company’s stock valued at $46,000 after purchasing an additional 752 shares during the period. Larson Financial Group LLC grew its stake in shares of First Trust Preferred Securities and Income ETF by 91.5% during the 4th quarter. Larson Financial Group LLC now owns 2,873 shares of the company’s stock valued at $52,000 after purchasing an additional 1,373 shares during the period. Finally, Triumph Capital Management bought a new stake in shares of First Trust Preferred Securities and Income ETF during the 3rd quarter valued at about $61,000.

First Trust Preferred Securities and Income ETF Stock Performance

First Trust Preferred Securities and Income ETF stock opened at $18.02 on Monday. The business has a 50-day simple moving average of $17.99 and a two-hundred day simple moving average of $18.17. First Trust Preferred Securities and Income ETF has a 52-week low of $17.50 and a 52-week high of $18.51.

First Trust Preferred Securities and Income ETF Profile

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum. FPE was launched on Feb 12, 2013 and is managed by First Trust.