First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $17.21 and traded as high as $17.36. First Trust Preferred Securities and Income ETF shares last traded at $17.34, with a volume of 2,464,370 shares traded.

First Trust Preferred Securities and Income ETF Stock Up 1.5%

The firm has a fifty day moving average price of $17.21 and a 200-day moving average price of $17.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FPE. Bank of America Corp DE raised its position in First Trust Preferred Securities and Income ETF by 5.4% in the first quarter. Bank of America Corp DE now owns 8,652,282 shares of the company’s stock worth $153,578,000 after acquiring an additional 446,585 shares during the period. Cetera Investment Advisers boosted its stake 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 acquiring an additional 383,261 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of First Trust Preferred Securities and Income ETF by 1.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 2,466,108 shares of the company’s stock valued at $42,047,000 after acquiring an additional 44,777 shares during the period. Baird Financial Group Inc. grew its position in shares of First Trust Preferred Securities and Income ETF by 3.4% during the 2nd quarter. Baird Financial Group Inc. now owns 2,028,641 shares of the company’s stock valued at $36,272,000 after acquiring an additional 66,507 shares during the period. Finally, Magnus Financial Group LLC increased its stake in shares of First Trust Preferred Securities and Income ETF by 4.7% during the 3rd quarter. Magnus Financial Group LLC now owns 2,052,183 shares of the company’s stock worth $34,990,000 after purchasing an additional 92,464 shares during the last quarter.

About First Trust Preferred Securities and Income ETF

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.