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

Archer Investment Corp cut its stake in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 2.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 336,898 shares of the company’s stock after selling 8,714 shares during the quarter. First Trust Preferred Securities and Income ETF makes up about 1.7% of Archer Investment Corp’s holdings, making the stock its 9th largest holding. Archer Investment Corp’s holdings in First Trust Preferred Securities and Income ETF were worth $5,849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its holdings in First Trust Preferred Securities and Income ETF by 12.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 23,116 shares of the company’s stock valued at $390,000 after acquiring an additional 2,638 shares during the period. Private Advisor Group LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 1.1% during the 4th quarter. Private Advisor Group LLC now owns 483,466 shares of the company’s stock worth $8,151,000 after acquiring an additional 5,247 shares during the last quarter. Everpar Advisors LLC bought a new stake in shares of First Trust Preferred Securities and Income ETF during the 4th quarter valued at $525,000. Principal Securities Inc. purchased a new stake in shares of First Trust Preferred Securities and Income ETF in the 4th quarter worth $517,000. Finally, NBC Securities Inc. raised its holdings in First Trust Preferred Securities and Income ETF by 1.7% in the 4th quarter. NBC Securities Inc. now owns 74,892 shares of the company’s stock worth $1,262,000 after purchasing an additional 1,221 shares during the period.

First Trust Preferred Securities and Income ETF Price Performance

NYSEARCA:FPE opened at $17.79 on Wednesday. The stock has a 50-day simple moving average of $17.59 and a two-hundred day simple moving average of $17.37. First Trust Preferred Securities and Income ETF has a 52-week low of $15.46 and a 52-week high of $17.83.

First Trust Preferred Securities and Income ETF 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.