First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Reaches New 1-Year Low – Time to Sell?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) hit a new 52-week low on Wednesday. The company traded as low as $16.93 and last traded at $16.9450, with a volume of 1,315,360 shares changing hands. The stock had previously closed at $17.05.

First Trust Preferred Securities and Income ETF Stock Performance

The firm’s 50 day simple moving average is $17.42 and its 200-day simple moving average is $17.77.

Hedge Funds Weigh In On First Trust Preferred Securities and Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FPE. Bank of America Corp DE increased its holdings in First Trust Preferred Securities and Income ETF by 5.4% in the 1st quarter. Bank of America Corp DE now owns 8,652,282 shares of the company’s stock valued at $153,578,000 after purchasing an additional 446,585 shares in the last quarter. Cetera Investment Advisers raised its position in First Trust Preferred Securities and Income ETF by 14.8% in the first quarter. Cetera Investment Advisers now owns 2,964,486 shares of the company’s stock valued at $52,620,000 after purchasing an additional 383,261 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of First Trust Preferred Securities and Income ETF by 4.7% during the first quarter. Kestra Advisory Services LLC now owns 2,425,646 shares of the company’s stock worth $43,055,000 after purchasing an additional 108,076 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of First Trust Preferred Securities and Income ETF by 3.4% during the second quarter. Baird Financial Group Inc. now owns 2,028,641 shares of the company’s stock worth $36,272,000 after purchasing an additional 66,507 shares in the last quarter. Finally, Park National Corp OH lifted its stake in shares of First Trust Preferred Securities and Income ETF by 2.3% during the third quarter. Park National Corp OH now owns 1,947,034 shares of the company’s stock worth $33,197,000 after purchasing an additional 43,467 shares in the last quarter.

First Trust Preferred Securities and Income ETF Company Profile

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.