331,241 Shares in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) Acquired by Elevation Capital Advisory LLC

Elevation Capital Advisory LLC purchased a new stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 331,241 shares of the company’s stock, valued at approximately $5,750,000. First Trust Preferred Securities and Income ETF comprises 2.6% of Elevation Capital Advisory LLC’s portfolio, making the stock its 17th largest holding.

Several other large investors have also recently modified their holdings of FPE. Focus Financial Network Inc. ADV bought a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter valued at approximately $363,000. Cornerstone Advisory LLC grew its stake in First Trust Preferred Securities and Income ETF by 2.2% during the fourth quarter. Cornerstone Advisory LLC now owns 31,729 shares of the company’s stock worth $535,000 after purchasing an additional 672 shares during the period. ROI Financial Advisors LLC bought a new stake in First Trust Preferred Securities and Income ETF in the fourth quarter worth approximately $868,000. Oppenheimer & Co. Inc. increased its stake in shares of First Trust Preferred Securities and Income ETF by 2.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 321,072 shares of the company’s stock valued at $5,413,000 after acquiring an additional 7,973 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its holdings in First Trust Preferred Securities and Income ETF by 5.9% in the fourth quarter. Cetera Advisor Networks LLC now owns 532,241 shares of the company’s stock worth $8,974,000 after purchasing an additional 29,798 shares during the period.

First Trust Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPE opened at $18.14 on Friday. The firm’s 50-day moving average price is $17.79 and its 200-day moving average price is $17.48. First Trust Preferred Securities and Income ETF has a 1-year low of $15.46 and a 1-year high of $18.23.

First Trust Preferred Securities and Income ETF 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.