First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Reaches New 1-Year Low – What’s Next?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) reached a new 52-week low on Thursday . The stock traded as low as $17.48 and last traded at $17.4850, with a volume of 55567 shares traded. The stock had previously closed at $17.56.

First Trust Preferred Securities and Income ETF Price Performance

The stock’s 50-day moving average price is $17.79 and its 200-day moving average price is $17.94.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FPE. IFP Advisors Inc boosted its stake in shares of First Trust Preferred Securities and Income ETF by 15.8% in the second quarter. IFP Advisors Inc now owns 135,670 shares of the company’s stock valued at $2,426,000 after buying an additional 18,502 shares during the period. Baird Financial Group Inc. increased its stake in 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 worth $36,272,000 after acquiring an additional 66,507 shares during the period. Waverly Advisors LLC raised its holdings in First Trust Preferred Securities and Income ETF by 4.7% in the 2nd quarter. Waverly Advisors LLC now owns 842,725 shares of the company’s stock valued at $15,068,000 after acquiring an additional 37,842 shares in the last quarter. Kingsbury Capital Investment Advisors LLC raised its holdings in First Trust Preferred Securities and Income ETF by 3.5% in the 2nd quarter. Kingsbury Capital Investment Advisors LLC now owns 106,305 shares of the company’s stock valued at $1,901,000 after acquiring an additional 3,624 shares in the last quarter. Finally, Tanager Wealth Management LLP lifted its position in shares of First Trust Preferred Securities and Income ETF by 1.9% during the 2nd quarter. Tanager Wealth Management LLP now owns 49,731 shares of the company’s stock valued at $889,000 after acquiring an additional 927 shares during the period.

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.