Magnus Financial Group LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,282 shares of the company’s stock, valued at approximately $909,000.
Several other hedge funds also recently modified their holdings of FPEI. Fifth Third Securities Inc. purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $1,211,000. QP Wealth Management LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $952,000. Integrated Advisors Network LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $233,000. Maia Wealth LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter valued at $357,000. Finally, Independent Wealth Network Inc. purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth $361,000.
First Trust Institutional Preferred Securities and Income ETF Stock Down 0.1%
FPEI opened at $18.37 on Friday. The firm’s fifty day moving average price is $18.77 and its two-hundred day moving average price is $19.06. First Trust Institutional Preferred Securities and Income ETF has a 1 year low of $18.30 and a 1 year high of $19.61.
About First Trust Institutional Preferred Securities and Income ETF
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.
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