First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $17.21 and traded as high as $17.36. First Trust Preferred Securities and Income ETF shares last traded at $17.34, with a volume of 2,464,370 shares.

First Trust Preferred Securities and Income ETF Stock Performance

The business has a 50 day moving average of $17.19 and a 200 day moving average of $17.80.

Hedge Funds Weigh In On First Trust Preferred Securities and Income ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Timbuktu Capital Management LLC acquired a new position in shares of First Trust Preferred Securities and Income ETF during the 2nd quarter worth about $27,000. Ascentis Independent Advisors acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 1st quarter valued at approximately $29,000. Allied Private Wealth LLC acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 2nd quarter valued at approximately $30,000. Versant Capital Management Inc acquired a new stake in shares of First Trust Preferred Securities and Income ETF in the 3rd quarter valued at approximately $45,000. Finally, SouthState Bank Corp bought a new position in First Trust Preferred Securities and Income ETF during the 1st quarter worth approximately $89,000.

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.