51,608 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI Bought by QP Wealth Management LLC

QP Wealth Management LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 51,608 shares of the company’s stock, valued at approximately $952,000. First Trust Institutional Preferred Securities and Income ETF accounts for about 1.4% of QP Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. QP Wealth Management LLC owned about 0.05% of First Trust Institutional Preferred Securities and Income ETF as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FPEI. Bank of America Corp DE raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 29.3% during the 1st quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after buying an additional 1,364,824 shares during the period. Essex LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at approximately $11,825,000. Royal Bank of Canada boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 7.0% in the first 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 during the period. Baer Investment Advisory LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the first quarter valued at approximately $3,533,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 43.7% in the first quarter. Geneos Wealth Management Inc. now owns 487,681 shares of the company’s stock valued at $9,266,000 after buying an additional 148,284 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of FPEI stock opened at $18.49 on Wednesday. The firm has a fifty day moving average of $18.80 and a 200-day moving average of $19.07. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $18.30 and a 12-month high of $19.61.

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.