NewEdge Advisors LLC Reduces Stock Holdings in First Trust Institutional Preferred Securities and Income ETF $FPEI

NewEdge Advisors LLC cut its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 68.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 793,314 shares of the company’s stock after selling 1,728,227 shares during the period. NewEdge Advisors LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $15,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FPEI. Northwestern Mutual Wealth Management Co. grew its position in First Trust Institutional Preferred Securities and Income ETF by 4,539.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock valued at $81,499,000 after acquiring an additional 4,112,566 shares in the last quarter. Morgan Stanley lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 11.9% during the fourth quarter. Morgan Stanley now owns 18,537,923 shares of the company’s stock worth $359,450,000 after purchasing an additional 1,976,898 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 29.3% in the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after purchasing an additional 1,364,824 shares during the period. Legacy Edge Advisors LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the fourth quarter valued at $21,779,000. Finally, Smith Chas P & Associates PA Cpas grew its holdings in 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 valued at $46,157,000 after purchasing an additional 989,787 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.2%

First Trust Institutional Preferred Securities and Income ETF stock opened at $19.05 on Thursday. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $18.71 and a 12-month high of $19.61. The firm’s fifty day moving average price is $19.23 and its 200 day moving average price is $19.28.

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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.