Essex LLC Buys 641,282 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Essex LLC acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 641,282 shares of the company’s stock, valued at approximately $11,825,000. First Trust Institutional Preferred Securities and Income ETF comprises 1.7% of Essex LLC’s investment portfolio, making the stock its 13th biggest position. Essex LLC owned approximately 0.64% of First Trust Institutional Preferred Securities and Income ETF as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 29.3% in the first quarter. Bank of America Corp DE now owns 6,017,351 shares of the company’s stock worth $114,330,000 after acquiring an additional 1,364,824 shares in the last quarter. Royal Bank of Canada boosted its position in First Trust Institutional Preferred Securities and Income ETF by 7.0% in the first quarter. Royal Bank of Canada now owns 5,375,215 shares of the company’s stock valued at $102,128,000 after buying an additional 351,265 shares during the last quarter. Annex Advisory Services LLC increased its holdings in First Trust Institutional Preferred Securities and Income ETF by 11.8% in the 2nd quarter. Annex Advisory Services LLC now owns 1,146,209 shares of the company’s stock worth $22,110,000 after buying an additional 120,692 shares during the period. Citizens Financial Group Inc. RI raised its position in First Trust Institutional Preferred Securities and Income ETF by 2.8% during the 1st quarter. Citizens Financial Group Inc. RI now owns 996,035 shares of the company’s stock worth $18,925,000 after buying an additional 27,511 shares during the last quarter. Finally, Integral Investment Advisors Inc. raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 1.3% during the second quarter. Integral Investment Advisors Inc. now owns 623,023 shares of the company’s stock worth $12,018,000 after purchasing an additional 8,100 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

FPEI traded down $0.06 during midday trading on Wednesday, hitting $18.51. 501,583 shares of the company were exchanged, compared to its average volume of 426,707. The company’s 50 day simple moving average is $18.86 and its 200 day simple moving average is $19.08. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.30 and a 1-year 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.