First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 52-Week High – Here’s What Happened

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $19.51 and last traded at $19.50, with a volume of 232404 shares changing hands. The stock had previously closed at $19.49.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

The stock’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $18.92.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 126.9% in the first quarter. Farther Finance Advisors LLC now owns 3,410 shares of the company’s stock valued at $64,000 after buying an additional 1,907 shares during the last quarter. Continuum Advisory LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the 1st quarter valued at about $68,000. Zions Bancorporation National Association UT acquired a new position in First Trust Institutional Preferred Securities and Income ETF during the 1st quarter valued at about $94,000. Greenwood Capital Associates LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter worth about $202,000. Finally, DAVENPORT & Co LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the 1st quarter worth about $205,000.

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.