Beacon Financial Group Reduces Stock Position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Beacon Financial Group decreased its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 133,716 shares of the company’s stock after selling 18,111 shares during the quarter. Beacon Financial Group’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $2,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Smith Chas P & Associates PA Cpas grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 1.8% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 2,158,373 shares of the company’s stock worth $40,362,000 after purchasing an additional 39,037 shares during the last quarter. Key Financial Inc boosted its position in First Trust Institutional Preferred Securities and Income ETF by 8.3% in the 3rd quarter. Key Financial Inc now owns 968,389 shares of the company’s stock valued at $18,467,000 after buying an additional 74,532 shares during the period. JPMorgan Chase & Co. grew its stake in First Trust Institutional Preferred Securities and Income ETF by 202.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 933,926 shares of the company’s stock worth $17,810,000 after acquiring an additional 625,087 shares in the last quarter. Adamsbrown Wealth Consultants LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 15.8% during the fourth quarter. Adamsbrown Wealth Consultants LLC now owns 762,208 shares of the company’s stock worth $14,253,000 after acquiring an additional 103,885 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 38.5% during the third quarter. Citizens Financial Group Inc. RI now owns 617,850 shares of the company’s stock valued at $11,782,000 after acquiring an additional 171,730 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.1 %

Shares of NYSEARCA FPEI opened at $18.79 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $17.89 and a 52-week high of $19.11. The stock has a 50 day moving average price of $18.73 and a 200 day moving average price of $18.78.

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.