Kovack Advisors Inc. Sells 3,223 Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Kovack Advisors Inc. reduced its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,108 shares of the company’s stock after selling 3,223 shares during the period. Kovack Advisors Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FPEI. Global Retirement Partners LLC grew its position in First Trust Institutional Preferred Securities and Income ETF by 151.5% in the fourth quarter. Global Retirement Partners LLC now owns 3,036 shares of the company’s stock valued at $57,000 after acquiring an additional 1,829 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $209,000. Fiduciary Trust Co acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth about $263,000. Hobbs Group Advisors LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth about $289,000. Finally, Ameritas Advisory Services LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at about $299,000.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

NYSEARCA:FPEI opened at $18.88 on Friday. The company’s 50-day moving average price is $18.73 and its two-hundred day moving average price is $18.81. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.90 and a 12 month high of $19.11.

First Trust Institutional Preferred Securities and Income ETF 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.