First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Reaches New 1-Year Low – Here’s Why

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.60 and last traded at $18.5950, with a volume of 6562 shares changing hands. The stock had previously closed at $18.74.

First Trust Institutional Preferred Securities and Income ETF Price Performance

The firm’s fifty day moving average price is $19.04 and its 200 day moving average price is $19.15.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of 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 during the last quarter. Royal Bank of Canada grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 7.0% during the 1st 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 in the last quarter. Smith Chas P & Associates PA Cpas increased its stake in First Trust Institutional Preferred Securities and Income ETF by 71.2% in the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,380,461 shares of the company’s stock worth $46,157,000 after acquiring an additional 989,787 shares during the last quarter. Montis Financial LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 10.6% in the 4th quarter. Montis Financial LLC now owns 1,735,426 shares of the company’s stock worth $33,650,000 after acquiring an additional 166,845 shares during the last quarter. Finally, Annex Advisory Services LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 11.8% in the 2nd quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock worth $22,110,000 after acquiring an additional 120,692 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Company 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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.