First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sets 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 company traded as low as $17.38 and last traded at $17.4050, with a volume of 739867 shares trading hands. The stock had previously closed at $17.52.

First Trust Preferred Securities and Income ETF Price Performance

The company’s 50-day simple moving average is $17.68 and its 200 day simple moving average is $17.87.

Institutional Investors Weigh In On First Trust Preferred Securities and Income ETF

A number of hedge funds have recently bought and sold shares of FPE. World Investment Advisors purchased a new stake in shares of First Trust Preferred Securities and Income ETF in the 4th quarter valued at about $526,000. Northwestern Mutual Wealth Management Co. increased its position in First Trust Preferred Securities and Income ETF by 9.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,194,738 shares of the company’s stock worth $21,768,000 after buying an additional 99,273 shares during the period. Evolve Private Wealth LLC acquired a new position in First Trust Preferred Securities and Income ETF during the fourth quarter worth approximately $3,423,000. Midwest Heritage Bank FSB lifted its stake in First Trust Preferred Securities and Income ETF by 20.5% in the first quarter. Midwest Heritage Bank FSB now owns 475,098 shares of the company’s stock valued at $8,433,000 after buying an additional 80,943 shares during the last quarter. Finally, Integrity Alliance LLC. lifted its stake in First Trust Preferred Securities and Income ETF by 421.7% in the fourth quarter. Integrity Alliance LLC. now owns 80,597 shares of the company’s stock valued at $1,468,000 after buying an additional 65,148 shares during the last quarter.

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.