First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sets New 12-Month Low – Should You Sell?

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.38 and last traded at $17.4050, with a volume of 739867 shares. The stock had previously closed at $17.52.

First Trust Preferred Securities and Income ETF Stock Performance

The stock has a 50-day moving average price of $17.71 and a 200 day moving average price of $17.89.

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

Several institutional investors and hedge funds have recently bought and sold shares of FPE. IFP Advisors Inc lifted its position in shares of First Trust Preferred Securities and Income ETF by 15.8% during the 2nd quarter. IFP Advisors Inc now owns 135,670 shares of the company’s stock valued at $2,426,000 after acquiring an additional 18,502 shares during the period. Baird Financial Group Inc. lifted its stake in shares of First Trust Preferred Securities and Income ETF by 3.4% during the 2nd quarter. Baird Financial Group Inc. now owns 2,028,641 shares of the company’s stock worth $36,272,000 after purchasing an additional 66,507 shares during the period. Waverly Advisors LLC boosted its stake in First Trust Preferred Securities and Income ETF by 4.7% in the 2nd quarter. Waverly Advisors LLC now owns 842,725 shares of the company’s stock worth $15,068,000 after buying an additional 37,842 shares during the last quarter. Kingsbury Capital Investment Advisors LLC increased its stake in shares of First Trust Preferred Securities and Income ETF by 3.5% during the 2nd quarter. Kingsbury Capital Investment Advisors LLC now owns 106,305 shares of the company’s stock valued at $1,901,000 after acquiring an additional 3,624 shares during the last quarter. Finally, Tanager Wealth Management LLP boosted its position in shares of First Trust Preferred Securities and Income ETF by 1.9% in the second quarter. Tanager Wealth Management LLP now owns 49,731 shares of the company’s stock worth $889,000 after acquiring an additional 927 shares during the last quarter.

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.