Independent Advisor Alliance Invests $14.91 Million in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Independent Advisor Alliance acquired a new position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) during the fourth quarter, Holdings Channel reports. The firm acquired 842,311 shares of the company’s stock, valued at approximately $14,909,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FPE. Raleigh Capital Management Inc. raised its position in shares of First Trust Preferred Securities and Income ETF by 96.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,681 shares of the company’s stock worth $30,000 after purchasing an additional 826 shares during the period. Promus Capital LLC purchased a new position in shares of First Trust Preferred Securities and Income ETF during the fourth quarter valued at $35,000. ORG Partners LLC grew its holdings in shares of First Trust Preferred Securities and Income ETF by 1,655.6% during the fourth quarter. ORG Partners LLC now owns 2,651 shares of the company’s stock valued at $47,000 after buying an additional 2,500 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of First Trust Preferred Securities and Income ETF by 435.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,849 shares of the company’s stock valued at $68,000 after buying an additional 3,130 shares in the last quarter. Finally, Ehrlich Financial Group purchased a new position in shares of First Trust Preferred Securities and Income ETF during the fourth quarter valued at $181,000.

First Trust Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPE opened at $17.75 on Monday. The business’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $17.89. First Trust Preferred Securities and Income ETF has a one year low of $16.95 and a one year high of $18.23.

First Trust Preferred Securities and Income ETF Company Profile

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.