Miracle Mile Advisors LLC Trims Position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)

Miracle Mile Advisors LLC decreased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,213 shares of the company’s stock after selling 13,837 shares during the period. Miracle Mile Advisors LLC owned approximately 0.20% of First Trust Institutional Preferred Securities and Income ETF worth $2,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FPEI. Zions Bancorporation N.A. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the 2nd quarter worth approximately $92,000. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $196,000 after purchasing an additional 4,824 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth $209,000. Park National Corp OH purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $236,000. Finally, Fiduciary Trust Co acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $263,000.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of First Trust Institutional Preferred Securities and Income ETF stock opened at $18.54 on Tuesday. The firm has a fifty day moving average of $18.77 and a two-hundred day moving average of $18.75. First Trust Institutional Preferred Securities and Income ETF has a one year low of $17.74 and a one year 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.