First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Reaches New 12-Month High at $18.40

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEIGet Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.40 and last traded at $18.38, with a volume of 351003 shares traded. The stock had previously closed at $18.32.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

The company’s 50-day moving average price is $18.18 and its 200-day moving average price is $18.00.

Institutional Trading of First Trust Institutional Preferred Securities and Income ETF

Several hedge funds have recently made changes to their positions in FPEI. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth about $198,000. Envestnet Asset Management Inc. increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 19.9% during the third quarter. Envestnet Asset Management Inc. now owns 624,511 shares of the company’s stock worth $10,542,000 after buying an additional 103,612 shares during the period. LPL Financial LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 15.3% during the third quarter. LPL Financial LLC now owns 2,424,917 shares of the company’s stock worth $40,933,000 after buying an additional 322,097 shares during the period. Stifel Financial Corp increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 1.8% during the third quarter. Stifel Financial Corp now owns 279,519 shares of the company’s stock worth $4,718,000 after buying an additional 5,070 shares during the period. Finally, Vista Investment Management increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.9% during the third quarter. Vista Investment Management now owns 134,519 shares of the company’s stock worth $2,271,000 after buying an additional 8,707 shares during the period.

About First Trust Institutional Preferred Securities and Income ETF

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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.

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