ORBA Wealth Advisors L.L.C. Trims Position in First Trust Preferred Securities and Income ETF $FPE

ORBA Wealth Advisors L.L.C. reduced its stake in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,798 shares of the company’s stock after selling 41,823 shares during the period. First Trust Preferred Securities and Income ETF comprises approximately 3.7% of ORBA Wealth Advisors L.L.C.’s holdings, making the stock its 7th biggest position. ORBA Wealth Advisors L.L.C. owned 0.05% of First Trust Preferred Securities and Income ETF worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FPE. World Investment Advisors acquired a new position in shares of First Trust Preferred Securities and Income ETF during the fourth quarter valued at $526,000. Econ Financial Services Corp acquired a new position in First Trust Preferred Securities and Income ETF during the 4th quarter valued at about $2,129,000. Juno Financial Group LLC bought a new position in First Trust Preferred Securities and Income ETF in the 4th quarter worth about $5,561,000. Appleton Partners Inc. MA raised its holdings in shares of First Trust Preferred Securities and Income ETF by 26.5% during the fourth quarter. Appleton Partners Inc. MA now owns 203,925 shares of the company’s stock valued at $3,716,000 after buying an additional 42,681 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of First Trust Preferred Securities and Income ETF by 17.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 427,459 shares of the company’s stock worth $7,788,000 after buying an additional 62,762 shares during the period.

First Trust Preferred Securities and Income ETF Stock Performance

FPE stock traded down $0.06 on Tuesday, reaching $17.92. The company’s stock had a trading volume of 339,732 shares, compared to its average volume of 1,383,254. First Trust Preferred Securities and Income ETF has a 52 week low of $17.54 and a 52 week high of $18.51. The firm has a fifty day moving average of $18.00 and a two-hundred day moving average of $18.11.

About First Trust Preferred Securities and Income ETF

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.