Kovack Advisors Inc. Sells 3,975 Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Kovack Advisors Inc. lowered its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,331 shares of the company’s stock after selling 3,975 shares during the quarter. Kovack Advisors Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Zions Bancorporation N.A. bought a new position in First Trust Institutional Preferred Securities and Income ETF during the second quarter valued at $92,000. International Assets Investment Management LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the second quarter worth about $157,000. Wedmont Private Capital bought a new stake in First Trust Institutional Preferred Securities and Income ETF in the second quarter worth about $186,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 82.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,645 shares of the company’s stock valued at $196,000 after buying an additional 4,824 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at approximately $209,000.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of FPEI stock opened at $18.84 on Friday. The stock has a 50 day moving average price of $18.92 and a 200 day moving average price of $18.60. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $17.00 and a 52-week high of $19.11.

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.