Private Advisory Group LLC has significantly expanded its stake in the First Trust Preferred Securities and Income ETF (FPE), signaling a notable adjustment in their investment portfolio strategies. This move reflects a broader trend of institutional investors recalibrating their holdings in income-focused exchange-traded funds, particularly those specializing in preferred securities.
According to its latest SEC disclosure, Private Advisory Group LLC bolstered its position in FPE during the first quarter, acquiring an additional 2,084 shares. This acquisition increased their total ownership to a substantial 146,465 shares of the company’s stock, representing a 1.4% rise in their overall investment in this key ETF.
The firm’s strategic increase in FPE holdings underscores a valuation of $2,576,000 at the close of the most recent financial quarter. This substantial figure highlights the commitment and confidence Private Advisory Group LLC places in the performance and stability of the First Trust Preferred Securities and Income ETF.
Beyond Private Advisory Group, other prominent institutional players have also demonstrated significant activity around FPE. Bank of America Corp DE, for instance, dramatically escalated its position by 104.3% in the fourth quarter, amassing over 7 million shares valued at more than $125 million, reflecting substantial confidence in this income fund.
Similarly, Stonebridge Advisors LLC showed an even more aggressive move, boosting its FPE stake by an astounding 1,097.6% in the fourth quarter. Their portfolio now includes 2,289,907 shares, an investment worth over $40 million, further indicating a widespread interest in these specific ETF investments.
Further demonstrating the appeal of FPE stock, Cetera Investment Advisers initiated a new position in the first quarter, valued at approximately $25.3 million. LPL Financial LLC also increased its holdings by 10.2%, now owning over 14 million shares, amounting to $252.6 million, underscoring continued institutional accumulation and positive outlooks on preferred securities.
Adding to this pattern, Integrity Wealth Advisors Inc. acquired a new position in FPE during the fourth quarter, valued at $22.1 million. The ETF itself has shown resilience, opening recently at $17.89, with a 52-week low of $16.77 and a high of $18.23, maintaining a positive trajectory with its fifty-day simple moving average at $17.73 and a 200-day simple moving average at $17.63.
The First Trust Preferred Securities and Income ETF (FPE) is structured as an actively managed fund, primarily investing in broad credit fixed income. Its core objective is to generate income by globally investing across preferred equities and various income-producing debt instruments spanning the entire market capitalization spectrum.
The collective actions of these major hedge funds and financial advisory groups underscore a robust interest in FPE, suggesting a strategic move towards income-generating assets and preferred securities within diversified portfolio adjustments. This trend provides valuable insight into current institutional investment strategies in the dynamic financial landscape.
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