First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sees Large Volume Increase – Still a Buy?

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw unusually-strong trading volume on Thursday . Approximately 3,514,926 shares changed hands during mid-day trading, an increase of 172% from the previous session’s volume of 1,291,089 shares.The stock last traded at $17.63 and had previously closed at $17.60.

First Trust Preferred Securities and Income ETF Price Performance

The company has a 50-day simple moving average of $17.35 and a two-hundred day simple moving average of $17.63.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FPE. Raymond James Financial Inc. bought a new position in First Trust Preferred Securities and Income ETF in the 4th quarter worth about $151,643,000. Bank of America Corp DE increased its stake in First Trust Preferred Securities and Income ETF by 104.3% in the 4th quarter. Bank of America Corp DE now owns 7,093,224 shares of the company’s stock worth $125,550,000 after acquiring an additional 3,621,383 shares during the last quarter. Stonebridge Advisors LLC increased its position in shares of First Trust Preferred Securities and Income ETF by 1,097.6% during the 4th quarter. Stonebridge Advisors LLC now owns 2,289,907 shares of the company’s stock valued at $40,531,000 after purchasing an additional 2,098,695 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of First Trust Preferred Securities and Income ETF during the 1st quarter valued at about $25,303,000. Finally, Advisory Alpha LLC increased its position in shares of First Trust Preferred Securities and Income ETF by 204.1% during the 1st quarter. Advisory Alpha LLC now owns 2,000,185 shares of the company’s stock valued at $35,183,000 after purchasing an additional 1,342,527 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.