First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Hits New 52-Week Low – Here’s Why

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) hit a new 52-week low during trading on Wednesday. The company traded as low as $16.95 and last traded at $16.9950, with a volume of 146,593 shares. The stock had previously closed at $17.05.

First Trust Preferred Securities and Income ETF Price Performance

The business’s 50-day simple moving average is $17.49 and its 200 day simple moving average is $17.79.

Institutional Investors Weigh In On First Trust Preferred Securities and Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FPE. B. Riley Wealth Advisors Inc. grew its holdings in First Trust Preferred Securities and Income ETF by 35.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 54,393 shares of the company’s stock valued at $927,000 after buying an additional 14,224 shares in the last quarter. Accel Wealth Management lifted its stake in shares of First Trust Preferred Securities and Income ETF by 20.2% during the third quarter. Accel Wealth Management now owns 45,061 shares of the company’s stock valued at $768,000 after buying an additional 7,588 shares during the period. Paller Financial Services Inc grew its stake in First Trust Preferred Securities and Income ETF by 1.4% during the third quarter. Paller Financial Services Inc now owns 56,735 shares of the company’s stock worth $967,000 after buying an additional 765 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of First Trust Preferred Securities and Income ETF in the third quarter worth $391,000. Finally, Gradient Investments LLC raised its position in shares of First Trust Preferred Securities and Income ETF by 3.0% during the 3rd quarter. Gradient Investments LLC now owns 449,843 shares of the company’s stock worth $7,670,000 after purchasing an additional 12,908 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.