Independent Wealth Network Inc. Trims Stake in First Trust Preferred Securities and Income ETF $FPE

Independent Wealth Network Inc. cut its position in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 28.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,627 shares of the company’s stock after selling 35,071 shares during the period. Independent Wealth Network Inc.’s holdings in First Trust Preferred Securities and Income ETF were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FPE. LPL Financial LLC grew its position in shares of First Trust Preferred Securities and Income ETF by 18.6% during the 4th quarter. LPL Financial LLC now owns 16,820,824 shares of the company’s stock worth $306,475,000 after buying an additional 2,636,765 shares in the last quarter. Stonebridge Advisors LLC raised its holdings in shares of First Trust Preferred Securities and Income ETF by 1,312.3% in the fourth quarter. Stonebridge Advisors LLC now owns 2,368,824 shares of the company’s stock valued at $40,181,000 after acquiring an additional 2,201,095 shares in the last quarter. Jane Street Group LLC lifted its stake in First Trust Preferred Securities and Income ETF by 433.4% in the second quarter. Jane Street Group LLC now owns 1,402,861 shares of the company’s stock worth $24,971,000 after acquiring an additional 1,139,866 shares during the period. Morgan Stanley lifted its stake in First Trust Preferred Securities and Income ETF by 2.1% in the fourth quarter. Morgan Stanley now owns 53,251,105 shares of the company’s stock worth $970,235,000 after acquiring an additional 1,110,239 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in First Trust Preferred Securities and Income ETF by 29.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,541,584 shares of the company’s stock worth $82,785,000 after acquiring an additional 1,041,910 shares in the last quarter.

First Trust Preferred Securities and Income ETF Price Performance

NYSEARCA FPE opened at $17.88 on Friday. The company’s 50-day simple moving average is $18.02 and its two-hundred day simple moving average is $18.13. 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.