Beacon Financial Advisory LLC Increases Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Beacon Financial Advisory LLC lifted its position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 19.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,163 shares of the company’s stock after purchasing an additional 11,632 shares during the period. Beacon Financial Advisory LLC owned about 0.08% of First Trust Institutional Preferred Securities and Income ETF worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 9.1% in the first quarter. LPL Financial LLC now owns 3,837,937 shares of the company’s stock worth $71,769,000 after purchasing an additional 319,485 shares in the last quarter. Royal Bank of Canada increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 11.9% in the first quarter. Royal Bank of Canada now owns 3,334,754 shares of the company’s stock worth $62,360,000 after purchasing an additional 355,102 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,463,341 shares of the company’s stock worth $46,064,000 after purchasing an additional 375,497 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.2% in the second quarter. Smith Chas P & Associates PA Cpas now owns 2,292,114 shares of the company’s stock worth $43,527,000 after purchasing an additional 49,272 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 8.7% in the second quarter. Truist Financial Corp now owns 1,209,178 shares of the company’s stock worth $22,962,000 after purchasing an additional 96,463 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of NYSEARCA FPEI opened at $19.38 on Friday. The firm has a fifty day moving average price of $19.22 and a 200-day moving average price of $18.86. First Trust Institutional Preferred Securities and Income ETF has a 1 year low of $17.81 and a 1 year high of $19.48.

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.