First Trust Preferred Securities and Income ETF $FPE Shares Sold by Arax Advisory Partners

Arax Advisory Partners trimmed its holdings in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,136,717 shares of the company’s stock after selling 1,638,815 shares during the period. First Trust Preferred Securities and Income ETF comprises approximately 1.1% of Arax Advisory Partners’ holdings, making the stock its 16th largest holding. Arax Advisory Partners owned about 0.61% of First Trust Preferred Securities and Income ETF worth $38,931,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of First Trust Preferred Securities and Income ETF in the 4th quarter valued at approximately $39,000. Rossby Financial LCC increased its holdings in shares of First Trust Preferred Securities and Income ETF by 469.7% in the 3rd quarter. Rossby Financial LCC now owns 2,347 shares of the company’s stock valued at $43,000 after acquiring an additional 1,935 shares during the last quarter. Ameriflex Group Inc. increased its holdings in shares of First Trust Preferred Securities and Income ETF by 339.3% in the 3rd quarter. Ameriflex Group Inc. now owns 2,372 shares of the company’s stock valued at $43,000 after acquiring an additional 1,832 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of First Trust Preferred Securities and Income ETF by 42.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,507 shares of the company’s stock valued at $46,000 after acquiring an additional 752 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of First Trust Preferred Securities and Income ETF by 91.5% in the 4th quarter. Larson Financial Group LLC now owns 2,873 shares of the company’s stock valued at $52,000 after acquiring an additional 1,373 shares during the last quarter.

First Trust Preferred Securities and Income ETF Trading Up 0.1%

Shares of NYSEARCA FPE opened at $17.96 on Friday. First Trust Preferred Securities and Income ETF has a twelve month low of $17.54 and a twelve month high of $18.51. The business has a 50 day simple moving average of $18.02 and a 200-day simple moving average of $18.15.

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. FPE was launched on Feb 12, 2013 and is managed by First Trust.