First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Newly Bought by Partners Wealth Management LLC

Partners Wealth Management LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 36,001 shares of the company’s stock, valued at approximately $664,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smith Chas P & Associates PA Cpas purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the third quarter worth about $44,684,000. Bank of America Corp DE raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after purchasing an additional 1,364,824 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at about $17,582,000. Essex LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at approximately $11,825,000. Finally, Royal Bank of Canada raised its stake in First Trust Institutional Preferred Securities and Income ETF by 7.0% during the first quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock valued at $102,128,000 after buying an additional 351,265 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

NYSEARCA:FPEI opened at $18.48 on Friday. The company’s 50 day moving average price is $18.68 and its 200-day moving average price is $19.12. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $18.29 and a 52 week high of $19.61.

About First Trust Institutional Preferred Securities and Income ETF

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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.