Smith Chas P & Associates PA Cpas Buys 989,787 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Smith Chas P & Associates PA Cpas lifted its stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 71.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,380,461 shares of the company’s stock after buying an additional 989,787 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF comprises 2.4% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 14th biggest holding. Smith Chas P & Associates PA Cpas owned 2.46% of First Trust Institutional Preferred Securities and Income ETF worth $46,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FPEI. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 4,539.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,203,161 shares of the company’s stock worth $81,499,000 after buying an additional 4,112,566 shares during the period. Legacy Edge Advisors LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the fourth quarter worth about $21,779,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 103.1% in the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,259,000 shares of the company’s stock worth $24,349,000 after buying an additional 639,000 shares during the period. Westview Management dba Westview Investment Advisors bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF in the fourth quarter worth about $7,480,000. Finally, Raymond James Financial Inc. raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% in the second quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock worth $38,112,000 after buying an additional 222,032 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

NYSEARCA FPEI opened at $19.23 on Thursday. The stock’s 50-day moving average price is $19.17 and its 200-day moving average price is $19.33. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $18.63 and a 52 week high of $19.61.

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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.