Summit Financial LLC Decreases Position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Summit Financial LLC lowered its stake in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,066 shares of the company’s stock after selling 6,230 shares during the quarter. Summit Financial LLC’s holdings in First Trust Preferred Securities and Income ETF were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in First Trust Preferred Securities and Income ETF during the 4th quarter worth about $151,643,000. LPL Financial LLC increased its stake in shares of First Trust Preferred Securities and Income ETF by 9.7% during the fourth quarter. LPL Financial LLC now owns 13,028,056 shares of the company’s stock worth $230,597,000 after buying an additional 1,151,344 shares during the period. Falcon Wealth Planning acquired a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter valued at approximately $19,169,000. Independent Advisor Alliance acquired a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter valued at approximately $14,909,000. Finally, Barclays PLC purchased a new position in First Trust Preferred Securities and Income ETF in the third quarter worth approximately $12,838,000.

First Trust Preferred Securities and Income ETF Price Performance

Shares of NYSEARCA:FPE opened at $17.60 on Wednesday. First Trust Preferred Securities and Income ETF has a 52 week low of $16.95 and a 52 week high of $18.23. The company’s 50 day moving average is $17.76 and its two-hundred day moving average is $17.87.

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.