First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Stake Cut by Citizens Business Bank

Citizens Business Bank trimmed its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 3.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 972,828 shares of the company’s stock after selling 38,744 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF comprises 3.9% of Citizens Business Bank’s investment portfolio, making the stock its 3rd largest holding. Citizens Business Bank’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $17,346,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wagner Wealth Management LLC grew its position in First Trust Institutional Preferred Securities and Income ETF by 5.3% in the 4th quarter. Wagner Wealth Management LLC now owns 17,750 shares of the company’s stock valued at $316,000 after buying an additional 898 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 6.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 20,729 shares of the company’s stock valued at $370,000 after acquiring an additional 1,218 shares in the last quarter. Dunhill Financial LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 3.2% during the third quarter. Dunhill Financial LLC now owns 40,984 shares of the company’s stock worth $682,000 after acquiring an additional 1,277 shares during the period. Sutton Place Investors LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 1.4% during the fourth quarter. Sutton Place Investors LLC now owns 112,110 shares of the company’s stock worth $1,999,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in First Trust Institutional Preferred Securities and Income ETF by 4.2% in the third quarter. Stratos Wealth Partners LTD. now owns 47,748 shares of the company’s stock valued at $806,000 after purchasing an additional 1,938 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Price Performance

FPEI traded down $0.07 during trading on Tuesday, reaching $17.94. The company’s stock had a trading volume of 282,491 shares, compared to its average volume of 322,920. The company’s fifty day moving average price is $18.11 and its 200-day moving average price is $17.68. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $16.39 and a 52-week high of $18.28.

About First Trust Institutional Preferred Securities and Income ETF

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.