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 on Wednesday. The stock traded as low as $16.95 and last traded at $16.9950, with a volume of 146,593 shares trading hands. The stock had previously closed at $17.05.

First Trust Preferred Securities and Income ETF Price Performance

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FPE. Timbuktu Capital Management LLC purchased a new position in First Trust Preferred Securities and Income ETF in the second quarter worth $27,000. Ascentis Independent Advisors bought a new position in First Trust Preferred Securities and Income ETF in the first quarter valued at $29,000. Allied Private Wealth LLC purchased a new stake in First Trust Preferred Securities and Income ETF during the second quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in First Trust Preferred Securities and Income ETF during the fourth quarter valued at about $45,000. Finally, Versant Capital Management Inc bought a new stake in First Trust Preferred Securities and Income ETF during the third quarter worth about $45,000.

About First Trust Preferred Securities and Income ETF

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.