Beacon Financial Advisory LLC Sells 36,407 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Beacon Financial Advisory LLC reduced its stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 41.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,055 shares of the company’s stock after selling 36,407 shares during the period. Beacon Financial Advisory LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FPEI. Baer Investment Advisory LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 1st quarter valued at $3,533,000. Platform Technology Partners raised its position in First Trust Institutional Preferred Securities and Income ETF by 3.0% in the first quarter. Platform Technology Partners now owns 66,481 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,956 shares during the last quarter. Essex LLC raised its position in First Trust Institutional Preferred Securities and Income ETF by 0.6% in the first quarter. Essex LLC now owns 645,831 shares of the company’s stock valued at $12,271,000 after purchasing an additional 3,573 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 14.2% during the first quarter. Janney Montgomery Scott LLC now owns 121,922 shares of the company’s stock valued at $2,317,000 after purchasing an additional 15,189 shares in the last quarter. Finally, Maridea Wealth Management LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 107.6% during the first quarter. Maridea Wealth Management LLC now owns 40,647 shares of the company’s stock valued at $772,000 after purchasing an additional 21,071 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

NYSEARCA:FPEI opened at $19.30 on Friday. The stock’s 50-day moving average is $19.24 and its 200-day moving average is $19.31. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $18.71 and a 1-year high of $19.61.

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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.