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 share price hit a new 52-week low on Monday . The company traded as low as $16.42 and last traded at $16.42, with a volume of 239 shares traded. The stock had previously closed at $17.84.

First Trust Preferred Securities and Income ETF Price Performance

The business’s 50 day moving average is $18.16 and its 200-day moving average is $18.25.

Institutional Trading of First Trust Preferred Securities and Income ETF

A number of hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont boosted its position in First Trust Preferred Securities and Income ETF by 85.1% during the 3rd quarter. Trust Co. of Vermont now owns 1,942 shares of the company’s stock worth $35,000 after buying an additional 893 shares during the period. Brown Brothers Harriman & Co. acquired a new position in First Trust Preferred Securities and Income ETF in the 4th quarter valued at approximately $39,000. Rossby Financial LCC raised its stake in shares of First Trust Preferred Securities and Income ETF by 469.7% during the third quarter. Rossby Financial LCC now owns 2,347 shares of the company’s stock valued at $43,000 after acquiring an additional 1,935 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in shares of First Trust Preferred Securities and Income ETF by 339.3% during the third quarter. Ameriflex Group Inc. now owns 2,372 shares of the company’s stock worth $43,000 after purchasing an additional 1,832 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of First Trust Preferred Securities and Income ETF in the fourth quarter worth $45,000.

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.