Archer Investment Corp Reduces Stock Position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Archer Investment Corp cut its stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 1.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 248,986 shares of the company’s stock after selling 3,535 shares during the quarter. First Trust Preferred Securities and Income ETF makes up approximately 1.1% of Archer Investment Corp’s portfolio, making the stock its 15th biggest holding. Archer Investment Corp’s holdings in First Trust Preferred Securities and Income ETF were worth $4,380,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its stake in shares of First Trust Preferred Securities and Income ETF by 1.3% during the 1st quarter. Brown Advisory Inc. now owns 57,241 shares of the company’s stock worth $1,007,000 after purchasing an additional 740 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of First Trust Preferred Securities and Income ETF during the 1st quarter worth approximately $79,000. Royal Bank of Canada increased its stake in shares of First Trust Preferred Securities and Income ETF by 1.7% during the 4th quarter. Royal Bank of Canada now owns 16,800,881 shares of the company’s stock worth $297,378,000 after purchasing an additional 286,168 shares in the last quarter. Spire Wealth Management increased its stake in shares of First Trust Preferred Securities and Income ETF by 9.5% during the 1st quarter. Spire Wealth Management now owns 12,534 shares of the company’s stock worth $220,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of First Trust Preferred Securities and Income ETF by 34.3% during the 1st quarter. Farther Finance Advisors LLC now owns 11,603 shares of the company’s stock worth $204,000 after purchasing an additional 2,964 shares in the last quarter.

First Trust Preferred Securities and Income ETF Trading Up 0.0%

Shares of FPE traded up $0.01 during mid-day trading on Friday, reaching $17.88. 62,415 shares of the company’s stock were exchanged, compared to its average volume of 1,382,926. The company has a 50-day simple moving average of $17.67 and a two-hundred day simple moving average of $17.62. First Trust Preferred Securities and Income ETF has a 52-week low of $16.77 and a 52-week high of $18.23.

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.