Welch & Forbes LLC Purchases 123,087 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Welch & Forbes LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 123,087 shares of the company’s stock, valued at approximately $2,270,000.

A number of other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted 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 purchasing an additional 1,364,824 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of 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 worth $102,128,000 after buying an additional 351,265 shares during the last quarter. Smith Chas P & Associates PA Cpas acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $44,684,000. Montis Financial LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $35,704,000. Finally, Annex Advisory Services LLC raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 6.2% during the 3rd quarter. Annex Advisory Services LLC now owns 1,217,165 shares of the company’s stock valued at $22,445,000 after buying an additional 70,956 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1%

FPEI opened at $18.65 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a one year low of $18.29 and a one year high of $19.61. The business’s 50 day moving average price is $18.61 and its 200 day moving average price is $19.09.

First Trust Institutional Preferred Securities and Income ETF 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.