Cornerstone Wealth Management LLC Purchases New Position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Cornerstone Wealth Management LLC acquired a new position in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,520 shares of the company’s stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Secure Asset Management LLC lifted its position in First Trust Preferred Securities and Income ETF by 5.6% during the 4th quarter. Secure Asset Management LLC now owns 27,884 shares of the company’s stock worth $494,000 after acquiring an additional 1,467 shares in the last quarter. Seros Financial LLC purchased a new stake in shares of First Trust Preferred Securities and Income ETF during the fourth quarter valued at approximately $6,962,000. Raleigh Capital Management Inc. raised its stake in shares of First Trust Preferred Securities and Income ETF by 96.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,681 shares of the company’s stock valued at $30,000 after purchasing an additional 826 shares during the period. Independent Wealth Network Inc. lifted its position in shares of First Trust Preferred Securities and Income ETF by 0.5% during the fourth quarter. Independent Wealth Network Inc. now owns 108,525 shares of the company’s stock worth $1,921,000 after purchasing an additional 567 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its stake in shares of First Trust Preferred Securities and Income ETF by 4.0% in the fourth quarter. Magnus Financial Group LLC now owns 1,482,254 shares of the company’s stock valued at $26,236,000 after purchasing an additional 57,194 shares during the period.

First Trust Preferred Securities and Income ETF Stock Down 0.1 %

First Trust Preferred Securities and Income ETF stock opened at $17.72 on Friday. First Trust Preferred Securities and Income ETF has a 12-month low of $16.95 and a 12-month high of $18.23. The firm’s fifty day moving average price is $17.80 and its 200 day moving average price is $17.84.

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.