First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Reaches New 12-Month Low – Should You Sell?

First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.87 and last traded at $16.88, with a volume of 1218497 shares changing hands. The stock had previously closed at $17.22.

First Trust Preferred Securities and Income ETF Stock Down 1.5 %

The business’s 50 day moving average price is $17.74 and its 200-day moving average price is $17.86.

Institutional Investors Weigh In On First Trust Preferred Securities and Income ETF

Several large investors have recently modified their holdings of the stock. Stifel Financial Corp grew its position in First Trust Preferred Securities and Income ETF by 19.9% in the third quarter. Stifel Financial Corp now owns 2,056,722 shares of the company’s stock valued at $37,227,000 after acquiring an additional 341,396 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 5.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,470 shares of the company’s stock valued at $298,000 after purchasing an additional 829 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of First Trust Preferred Securities and Income ETF by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 711,552 shares of the company’s stock worth $12,879,000 after purchasing an additional 18,609 shares during the last quarter. Barclays PLC acquired a new stake in shares of First Trust Preferred Securities and Income ETF during the third quarter worth approximately $12,838,000. Finally, Asset Allocation Strategies LLC grew its position in First Trust Preferred Securities and Income ETF by 1.1% during the 3rd quarter. Asset Allocation Strategies LLC now owns 116,129 shares of the company’s stock worth $2,102,000 after acquiring an additional 1,307 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.