First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 52-Week High – Here’s What Happened

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $19.51 and last traded at $19.50, with a volume of 232404 shares traded. The stock had previously closed at $19.49.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The business’s 50-day moving average price is $19.29 and its two-hundred day moving average price is $18.92.

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

Large investors have recently modified their holdings of the stock. Ocean Park Asset Management LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at about $6,875,000. Merit Financial Group LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 6.3% in the 3rd quarter. Merit Financial Group LLC now owns 1,653,787 shares of the company’s stock worth $31,984,000 after acquiring an additional 97,331 shares in the last quarter. TBH Global Asset Management LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at approximately $571,000. Annex Advisory Services LLC raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 7.4% during the 3rd quarter. Annex Advisory Services LLC now owns 903,544 shares of the company’s stock valued at $17,475,000 after acquiring an additional 62,592 shares in the last quarter. Finally, Lakeridge Wealth Management LLC raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 1.7% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 80,700 shares of the company’s stock valued at $1,561,000 after acquiring an additional 1,386 shares in the last quarter.

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.