Kovack Advisors Inc. Has $451,000 Stock Holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Kovack Advisors Inc. trimmed its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,108 shares of the company’s stock after selling 3,223 shares during the quarter. Kovack Advisors Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FPEI. Global Retirement Partners LLC increased its position in First Trust Institutional Preferred Securities and Income ETF by 151.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,036 shares of the company’s stock valued at $57,000 after acquiring an additional 1,829 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at approximately $209,000. Fiduciary Trust Co acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at approximately $263,000. Hobbs Group Advisors LLC bought a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth approximately $289,000. Finally, Ameritas Advisory Services LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter worth $299,000.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.4 %

Shares of FPEI opened at $18.88 on Friday. The business’s fifty day moving average price is $18.73 and its two-hundred day moving average price is $18.81. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $17.90 and a 52 week high of $19.11.

First Trust Institutional Preferred Securities and Income ETF Company Profile

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.