First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 13.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,190,737 shares of the company’s stock after selling 330,804 shares during the period. NewEdge Advisors LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $41,624,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FPEI. Northwestern Mutual Wealth Management Co. grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 4,539.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock worth $81,499,000 after acquiring an additional 4,112,566 shares during the period. Morgan Stanley increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 11.9% in the fourth quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock valued at $359,450,000 after buying an additional 1,976,898 shares in the last quarter. Bank of America Corp DE raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% during the 1st 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 during the period. Legacy Edge Advisors LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth approximately $21,779,000. Finally, Smith Chas P & Associates PA Cpas raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 71.2% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock worth $46,157,000 after buying an additional 989,787 shares during the period.

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

FPEI opened at $19.18 on Friday. The firm’s fifty day simple moving average is $19.23 and its two-hundred day simple moving average is $19.27. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $18.71 and a 52-week high of $19.61.

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.