Miracle Mile Advisors LLC Cuts Stock Holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Miracle Mile Advisors LLC cut its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 20.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 787,354 shares of the company’s stock after selling 203,928 shares during the quarter. Miracle Mile Advisors LLC owned 1.36% of First Trust Institutional Preferred Securities and Income ETF worth $14,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FPEI. Envestnet Portfolio Solutions Inc. bought a new position in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at $198,000. Envestnet Asset Management Inc. lifted its position in First Trust Institutional Preferred Securities and Income ETF by 19.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 624,511 shares of the company’s stock worth $10,542,000 after buying an additional 103,612 shares during the last quarter. Stifel Financial Corp grew its position in First Trust Institutional Preferred Securities and Income ETF by 1.8% during the third quarter. Stifel Financial Corp now owns 279,519 shares of the company’s stock valued at $4,718,000 after acquiring an additional 5,070 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth approximately $2,074,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 18.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 727,866 shares of the company’s stock worth $12,978,000 after acquiring an additional 115,730 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

NYSEARCA:FPEI traded down $0.01 during trading hours on Monday, reaching $18.36. The company’s stock had a trading volume of 383,831 shares, compared to its average volume of 295,627. The firm has a 50-day simple moving average of $18.25 and a 200-day simple moving average of $18.09. First Trust Institutional Preferred Securities and Income ETF has a 1 year low of $16.44 and a 1 year high of $18.46.

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.