Royal Bank of Canada Sells 3,976,246 Shares of First Trust Preferred Securities and Income ETF $FPE

Royal Bank of Canada lowered its holdings in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 16.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,554,291 shares of the company’s stock after selling 3,976,246 shares during the period. Royal Bank of Canada owned approximately 5.55% of First Trust Preferred Securities and Income ETF worth $347,088,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FPE. Ascentis Independent Advisors purchased a new position in shares of First Trust Preferred Securities and Income ETF during the first quarter worth about $29,000. Brown Brothers Harriman & Co. purchased a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter valued at approximately $39,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in First Trust Preferred Securities and Income ETF during the fourth quarter valued at approximately $45,000. Raleigh Capital Management Inc. lifted its position in First Trust Preferred Securities and Income ETF by 42.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,507 shares of the company’s stock valued at $46,000 after purchasing an additional 752 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in First Trust Preferred Securities and Income ETF by 91.5% in the 4th quarter. Larson Financial Group LLC now owns 2,873 shares of the company’s stock worth $52,000 after buying an additional 1,373 shares in the last quarter.

First Trust Preferred Securities and Income ETF Price Performance

Shares of NYSEARCA:FPE opened at $17.72 on Thursday. The company’s fifty day moving average price is $17.92 and its 200-day moving average price is $18.07. First Trust Preferred Securities and Income ETF has a one year low of $17.54 and a one year high of $18.51.

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. FPE was launched on Feb 12, 2013 and is managed by First Trust.