Flynn Zito Capital Management LLC Makes New $3.41 Million Investment in First Trust Institutional Preferred Securities and Income ETF $FPEI

Flynn Zito Capital Management LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the third quarter, Holdings Channel reports. The institutional investor acquired 184,753 shares of the company’s stock, valued at approximately $3,407,000. First Trust Institutional Preferred Securities and Income ETF accounts for about 0.9% of Flynn Zito Capital Management LLC’s holdings, making the stock its 29th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of FPEI. Bank of America Corp DE raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock valued at $114,330,000 after buying an additional 1,364,824 shares during the period. Royal Bank of Canada boosted 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 worth $102,128,000 after buying an additional 351,265 shares during the period. Smith Chas P & Associates PA Cpas purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the third quarter worth about $44,684,000. Montis Financial LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the third quarter worth about $35,704,000. Finally, Annex Advisory Services LLC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 6.2% during the third quarter. Annex Advisory Services LLC now owns 1,217,165 shares of the company’s stock worth $22,445,000 after buying an additional 70,956 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.5%

Shares of FPEI opened at $18.67 on Tuesday. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.29 and a 1-year high of $19.61. The firm has a 50-day simple moving average of $18.62 and a two-hundred day simple moving average of $19.09.

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.