Magnus Financial Group LLC Sells 330,132 Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Magnus Financial Group LLC trimmed its position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 87.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 49,086 shares of the company’s stock after selling 330,132 shares during the period. Magnus Financial Group LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $875,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $176,000. Envestnet Portfolio Solutions Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $198,000. Kingswood Wealth Advisors LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth approximately $314,000. Wagner Wealth Management LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 5.3% during the 4th quarter. Wagner Wealth Management LLC now owns 17,750 shares of the company’s stock worth $316,000 after buying an additional 898 shares during the period. Finally, Koshinski Asset Management Inc. raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 26.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 23,687 shares of the company’s stock worth $422,000 after buying an additional 4,895 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.1 %

NYSEARCA FPEI opened at $17.95 on Monday. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $16.39 and a 12-month high of $18.28. The firm’s 50 day moving average is $18.11 and its 200-day moving average is $17.67.

First Trust Institutional Preferred Securities and Income ETF Profile

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.