First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Sees Large Volume Increase

Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) saw unusually-strong trading volume on Wednesday . Approximately 6,753,288 shares traded hands during trading, an increase of 368% from the previous session’s volume of 1,443,194 shares.The stock last traded at $17.19 and had previously closed at $17.32.

First Trust Preferred Securities and Income ETF Price Performance

The stock has a 50-day simple moving average of $17.21 and a two-hundred day simple moving average of $16.82.

Hedge Funds Weigh In On First Trust Preferred Securities and Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC raised its position in shares of First Trust Preferred Securities and Income ETF by 5.8% during the 3rd quarter. Park Avenue Securities LLC now owns 155,243 shares of the company’s stock valued at $2,479,000 after buying an additional 8,570 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 18.6% during the 3rd quarter. Dunhill Financial LLC now owns 347,089 shares of the company’s stock worth $5,463,000 after purchasing an additional 54,546 shares during the period. Midwest Heritage Bank FSB grew its holdings in shares of First Trust Preferred Securities and Income ETF by 1.1% in the third quarter. Midwest Heritage Bank FSB now owns 221,564 shares of the company’s stock worth $3,538,000 after purchasing an additional 2,322 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in First Trust Preferred Securities and Income ETF by 264.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,656 shares of the company’s stock valued at $26,000 after buying an additional 1,201 shares in the last quarter. Finally, Mainsail Financial Group LLC grew its stake in First Trust Preferred Securities and Income ETF by 21.0% in the 3rd quarter. Mainsail Financial Group LLC now owns 83,776 shares of the company’s stock worth $1,331,000 after acquiring an additional 14,512 shares in the last quarter.

First Trust Preferred Securities and Income ETF Company 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.