Kovack Advisors Inc. Has $3.04 Million Stock Position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Kovack Advisors Inc. cut its holdings in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 8.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,930 shares of the company’s stock after selling 15,018 shares during the quarter. Kovack Advisors Inc. owned 0.05% of First Trust Preferred Securities and Income ETF worth $3,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. boosted its holdings in shares of First Trust Preferred Securities and Income ETF by 5.4% during the second quarter. NBC Securities Inc. now owns 82,505 shares of the company’s stock worth $1,432,000 after purchasing an additional 4,256 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 108.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 56,838 shares of the company’s stock valued at $987,000 after buying an additional 29,559 shares during the period. Creative Planning grew its holdings in shares of First Trust Preferred Securities and Income ETF by 32.8% during the 3rd quarter. Creative Planning now owns 14,869 shares of the company’s stock valued at $269,000 after acquiring an additional 3,669 shares in the last quarter. Brookstone Capital Management increased its stake in shares of First Trust Preferred Securities and Income ETF by 9.2% in the second quarter. Brookstone Capital Management now owns 113,522 shares of the company’s stock worth $2,001,000 after acquiring an additional 9,523 shares during the last quarter. Finally, Elevation Capital Advisory LLC purchased a new stake in shares of First Trust Preferred Securities and Income ETF during the second quarter worth $5,750,000.

First Trust Preferred Securities and Income ETF Price Performance

FPE traded up $0.01 during trading on Wednesday, reaching $18.01. 167,275 shares of the stock traded hands, compared to its average volume of 1,231,968. First Trust Preferred Securities and Income ETF has a fifty-two week low of $16.09 and a fifty-two week high of $18.23. The stock’s 50-day simple moving average is $18.05 and its two-hundred day simple moving average is $17.67.

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.