First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Hits New 52-Week Low – What’s Next?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) reached a new 52-week low during trading on Thursday . The company traded as low as $17.48 and last traded at $17.4850, with a volume of 55567 shares trading hands. The stock had previously closed at $17.56.

First Trust Preferred Securities and Income ETF Stock Performance

The business’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $17.94.

Institutional Trading of First Trust Preferred Securities and Income ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Timbuktu Capital Management LLC bought a new position in First Trust Preferred Securities and Income ETF in the second quarter valued at approximately $27,000. Ascentis Independent Advisors bought a new stake in First Trust Preferred Securities and Income ETF during the first quarter worth $29,000. Allied Private Wealth LLC bought a new stake in First Trust Preferred Securities and Income ETF during the second quarter worth $30,000. Brown Brothers Harriman & Co. acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 4th quarter valued at $39,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 4th quarter valued at $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.