Merit Financial Group LLC Buys 199,054 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Merit Financial Group LLC lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 12.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,852,841 shares of the company’s stock after buying an additional 199,054 shares during the quarter. Merit Financial Group LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $35,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 13.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 328,185 shares of the company’s stock valued at $6,347,000 after acquiring an additional 39,168 shares during the period. Synergy Asset Management LLC lifted its position in First Trust Institutional Preferred Securities and Income ETF by 100.0% during the third quarter. Synergy Asset Management LLC now owns 404,680 shares of the company’s stock worth $7,685,000 after acquiring an additional 202,340 shares during the last quarter. CWM LLC boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 27.0% during the third quarter. CWM LLC now owns 239,103 shares of the company’s stock worth $4,624,000 after acquiring an additional 50,767 shares during the period. McAdam LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 29.9% in the third quarter. McAdam LLC now owns 162,584 shares of the company’s stock valued at $3,144,000 after purchasing an additional 37,451 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 8.7% in the third quarter. Truist Financial Corp now owns 1,313,802 shares of the company’s stock valued at $25,409,000 after purchasing an additional 104,624 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1%

Shares of NYSEARCA FPEI opened at $19.24 on Friday. The business’s 50 day moving average is $19.29 and its 200-day moving average is $19.37. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.17 and a 1-year high of $19.61.

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.