First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $18.62 and traded as high as $18.71. First Trust Institutional Preferred Securities and Income ETF shares last traded at $18.67, with a volume of 470,772 shares changing hands.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.5%

The business has a fifty day simple moving average of $18.62 and a two-hundred day simple moving average of $19.09.

Institutional Investors Weigh In On First Trust Institutional Preferred Securities and Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in 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 worth $114,330,000 after purchasing an additional 1,364,824 shares in the last quarter. Royal Bank of Canada grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 7.0% in the 1st quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock worth $102,128,000 after buying an additional 351,265 shares during the period. Smith Chas P & Associates PA Cpas purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $44,684,000. Montis Financial LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $35,704,000. Finally, Annex Advisory Services LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.2% in the 3rd quarter. Annex Advisory Services LLC now owns 1,217,165 shares of the company’s stock worth $22,445,000 after acquiring an additional 70,956 shares in the last quarter.

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.