Parallel Advisors LLC Sells 6,742 Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Parallel Advisors LLC cut its stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 7.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 80,656 shares of the company’s stock after selling 6,742 shares during the quarter. Parallel Advisors LLC’s holdings in First Trust Preferred Securities and Income ETF were worth $1,428,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans raised its position in shares of First Trust Preferred Securities and Income ETF by 12.9% during the third quarter. Thrivent Financial for Lutherans now owns 14,838 shares of the company’s stock worth $269,000 after acquiring an additional 1,696 shares during the last quarter. Prospera Financial Services Inc grew its stake in First Trust Preferred Securities and Income ETF by 15.7% in the third quarter. Prospera Financial Services Inc now owns 1,622,012 shares of the company’s stock valued at $29,362,000 after acquiring an additional 220,692 shares during the period. Moors & Cabot Inc. grew its stake in First Trust Preferred Securities and Income ETF by 14.0% in the third quarter. Moors & Cabot Inc. now owns 92,580 shares of the company’s stock valued at $1,676,000 after acquiring an additional 11,376 shares during the period. LPL Financial LLC lifted its holdings in shares of First Trust Preferred Securities and Income ETF by 9.5% in the third quarter. LPL Financial LLC now owns 11,876,712 shares of the company’s stock valued at $214,968,000 after purchasing an additional 1,035,105 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. lifted its holdings in shares of First Trust Preferred Securities and Income ETF by 5.0% in the third quarter. Blackhawk Capital Partners LLC. now owns 145,091 shares of the company’s stock valued at $2,626,000 after purchasing an additional 6,944 shares in the last quarter.

First Trust Preferred Securities and Income ETF Stock Performance

Shares of First Trust Preferred Securities and Income ETF stock opened at $17.70 on Wednesday. The stock’s 50-day moving average is $17.75 and its 200-day moving average 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.

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.