First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Shares Down 0.2% – Here’s Why

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) shares were down 0.2% on Monday . The company traded as low as $17.66 and last traded at $17.66. Approximately 898,824 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 1,290,834 shares. The stock had previously closed at $17.69.

First Trust Preferred Securities and Income ETF Price Performance

The business has a 50-day moving average price of $17.83 and a 200-day moving average price of $17.98.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Timbuktu Capital Management LLC purchased a new position in First Trust Preferred Securities and Income ETF during the second quarter worth about $27,000. Ascentis Independent Advisors acquired a new stake in shares of First Trust Preferred Securities and Income ETF during the 1st quarter worth approximately $29,000. Allied Private Wealth LLC acquired a new stake in shares of First Trust Preferred Securities and Income ETF during the 2nd quarter worth approximately $30,000. Brown Brothers Harriman & Co. purchased a new stake in shares of First Trust Preferred Securities and Income ETF during the 4th quarter valued at approximately $39,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of First Trust Preferred Securities and Income ETF during the 4th quarter valued at approximately $45,000.

First Trust Preferred Securities and Income ETF Company Profile

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.