Merit Financial Group LLC Has $29.56 Million Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Merit Financial Group LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 7.8% during the second quarter, Holdings Channel.com reports. The firm owned 1,556,456 shares of the company’s stock after acquiring an additional 112,753 shares during the period. Merit Financial Group LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $29,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LPL Financial LLC boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 9.1% in the first quarter. LPL Financial LLC now owns 3,837,937 shares of the company’s stock worth $71,769,000 after purchasing an additional 319,485 shares in the last quarter. Royal Bank of Canada boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 11.9% in the first quarter. Royal Bank of Canada now owns 3,334,754 shares of the company’s stock worth $62,360,000 after purchasing an additional 355,102 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 18.0% during the first quarter. Envestnet Asset Management Inc. now owns 2,463,341 shares of the company’s stock valued at $46,064,000 after acquiring an additional 375,497 shares during the period. Smith Chas P & Associates PA Cpas lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.2% during the second quarter. Smith Chas P & Associates PA Cpas now owns 2,292,114 shares of the company’s stock valued at $43,527,000 after acquiring an additional 49,272 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 8.7% during the second quarter. Truist Financial Corp now owns 1,209,178 shares of the company’s stock valued at $22,962,000 after acquiring an additional 96,463 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

Shares of FPEI opened at $19.38 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.48. The stock’s fifty day simple moving average is $19.22 and its 200-day simple moving average is $18.86.

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.