First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sees Strong Trading Volume – What’s Next?

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw unusually-strong trading volume on Friday. Approximately 1,650,672 shares were traded during mid-day trading, an increase of 21% from the previous session’s volume of 1,361,778 shares. The stock last traded at $16.8850 and had previously closed at $16.92.

First Trust Preferred Securities and Income ETF Trading Down 0.1%

The business has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $17.76.

Institutional Trading of First Trust Preferred Securities and Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lake Street Private Wealth LLC lifted its position in shares of First Trust Preferred Securities and Income ETF by 10.8% during the third quarter. Lake Street Private Wealth LLC now owns 199,224 shares of the company’s stock valued at $3,397,000 after purchasing an additional 19,403 shares in the last quarter. Brookstone Capital Management lifted its position in shares of First Trust Preferred Securities and Income ETF by 13.5% during the 3rd quarter. Brookstone Capital Management now owns 283,768 shares of the company’s stock worth $4,838,000 after buying an additional 33,670 shares in the last quarter. Seros Financial LLC lifted its position in shares of First Trust Preferred Securities and Income ETF by 10.0% during the 3rd quarter. Seros Financial LLC now owns 611,026 shares of the company’s stock worth $10,418,000 after buying an additional 55,770 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of First Trust Preferred Securities and Income ETF in the 3rd quarter worth approximately $124,000. Finally, Marion Wealth Management boosted its stake in shares of First Trust Preferred Securities and Income ETF by 4.7% in the 3rd quarter. Marion Wealth Management now owns 409,277 shares of the company’s stock worth $6,978,000 after buying an additional 18,320 shares during the last quarter.

About First Trust Preferred Securities and Income ETF

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.