First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Hits New 1-Year Low – Time to Sell?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) hit a new 52-week low on Tuesday. The company traded as low as $17.12 and last traded at $17.14, with a volume of 1496087 shares trading hands. The stock had previously closed at $17.24.

First Trust Preferred Securities and Income ETF Trading Down 0.2%

The firm has a 50-day moving average of $17.62 and a two-hundred day moving average of $17.85.

Institutional Trading of First Trust Preferred Securities and Income ETF

Several institutional investors have recently made changes to their positions in FPE. LPL Financial LLC increased its stake in First Trust Preferred Securities and Income ETF by 18.6% in the 4th quarter. LPL Financial LLC now owns 16,820,824 shares of the company’s stock valued at $306,475,000 after buying an additional 2,636,765 shares during the period. Bank of America Corp DE boosted its stake in shares of First Trust Preferred Securities and Income ETF by 5.4% during the 1st quarter. Bank of America Corp DE now owns 8,652,282 shares of the company’s stock valued at $153,578,000 after buying an additional 446,585 shares during the period. Cetera Investment Advisers grew its holdings in shares of First Trust Preferred Securities and Income ETF by 14.8% during the 1st 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 in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of First Trust Preferred Securities and Income ETF by 4.7% during the 1st quarter. Kestra Advisory Services LLC now owns 2,425,646 shares of the company’s stock valued at $43,055,000 after acquiring an additional 108,076 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of First Trust Preferred Securities and Income ETF by 9.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,211,426 shares of the company’s stock valued at $40,292,000 after acquiring an additional 197,896 shares in 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.