First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Trading Down 0.2% – Time to Sell?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) dropped 0.2% during mid-day trading on Monday . The stock traded as low as $17.66 and last traded at $17.66. Approximately 898,824 shares traded hands during trading, a decline of 30% from the average session volume of 1,290,834 shares. The stock had previously closed at $17.69.

First Trust Preferred Securities and Income ETF Stock Down 0.2%

The business’s 50 day moving average is $17.83 and its 200 day moving average is $17.98.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FPE. Sequoia Financial Advisors LLC lifted its holdings in shares of First Trust Preferred Securities and Income ETF by 3.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 20,206 shares of the company’s stock valued at $368,000 after buying an additional 628 shares during the period. Visionary Wealth Advisors boosted its stake in shares of First Trust Preferred Securities and Income ETF by 0.9% in the second quarter. Visionary Wealth Advisors now owns 69,297 shares of the company’s stock worth $1,233,000 after buying an additional 634 shares during the last quarter. Centaurus Financial Inc. grew its holdings in First Trust Preferred Securities and Income ETF by 7.3% during the third quarter. Centaurus Financial Inc. now owns 11,840 shares of the company’s stock worth $216,000 after acquiring an additional 810 shares during the period. Measured Wealth Private Client Group LLC grew its stake in First Trust Preferred Securities and Income ETF by 7.2% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,432 shares of the company’s stock valued at $227,000 after acquiring an additional 838 shares during the period. Finally, Tanager Wealth Management LLP raised its position in shares of First Trust Preferred Securities and Income ETF by 1.9% in the second quarter. Tanager Wealth Management LLP now owns 49,731 shares of the company’s stock valued at $889,000 after buying an additional 927 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.