Synergy Asset Management LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 202,340 shares of the company’s stock, valued at approximately $3,842,000.
Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 126.9% in the 1st quarter. Farther Finance Advisors LLC now owns 3,410 shares of the company’s stock valued at $64,000 after purchasing an additional 1,907 shares in the last quarter. Continuum Advisory LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 1st quarter worth approximately $68,000. Zions Bancorporation National Association UT purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 1st quarter worth approximately $94,000. DAVENPORT & Co LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 1st quarter worth approximately $205,000. Finally, Montis Financial LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 2nd quarter worth approximately $208,000.
First Trust Institutional Preferred Securities and Income ETF Price Performance
Shares of NYSEARCA:FPEI opened at $19.37 on Friday. The business’s 50 day simple moving average is $19.21 and its 200-day simple moving average is $18.86. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.81 and a 12 month high of $19.48.
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.
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