Walker Asset Management LLC Sells 1,190 Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Walker Asset Management LLC cut its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,200 shares of the company’s stock after selling 1,190 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF accounts for about 0.9% of Walker Asset Management LLC’s holdings, making the stock its 20th biggest holding. Walker Asset Management LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth approximately $36,807,000. Merit Financial Group LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the first quarter worth approximately $26,997,000. JPMorgan Chase & Co. raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 69.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,586,258 shares of the company’s stock worth $29,663,000 after acquiring an additional 652,332 shares in the last quarter. LPL Financial LLC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 22.3% during the fourth quarter. LPL Financial LLC now owns 3,518,452 shares of the company’s stock worth $65,795,000 after acquiring an additional 641,323 shares in the last quarter. Finally, Stonebridge Advisors LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter worth approximately $6,867,000.

First Trust Institutional Preferred Securities and Income ETF Price Performance

FPEI stock opened at $18.83 on Tuesday. First Trust Institutional Preferred Securities and Income ETF has a one year low of $17.81 and a one year high of $19.11. The company’s 50 day moving average price is $18.46 and its two-hundred day moving average price is $18.65.

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.