Independent Financial Group LLC Makes New $1.29 Million Investment in First Trust Preferred Securities and Income ETF $FPE

Independent Financial Group LLC purchased a new position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 72,808 shares of the company’s stock, valued at approximately $1,292,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ascentis Independent Advisors acquired a new stake in First Trust Preferred Securities and Income ETF in the first quarter worth approximately $29,000. Brown Brothers Harriman & Co. purchased a new position in First Trust Preferred Securities and Income ETF in the 4th quarter worth about $39,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of First Trust Preferred Securities and Income ETF in the fourth quarter valued at $45,000. Raleigh Capital Management Inc. grew its holdings in shares of First Trust Preferred Securities and Income ETF by 42.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,507 shares of the company’s stock valued at $46,000 after buying an additional 752 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in 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 worth $52,000 after acquiring an additional 1,373 shares during the period.

First Trust Preferred Securities and Income ETF Stock Down 0.1%

NYSEARCA:FPE opened at $17.93 on Tuesday. First Trust Preferred Securities and Income ETF has a fifty-two week low of $17.54 and a fifty-two week high of $18.51. The stock’s 50-day moving average is $17.96 and its two-hundred day moving average is $18.09.

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.