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Factoid of the Day Wednesday, August 23, 2017
Black Book, an auto analytics company, reported that the average used car in the U.S. lost 16.8% of its value over the past 12 months (thru July), according to Bloomberg. The average price of a used car declined from $18,400 to $15,300. For comparative purposes, used car prices depreciated by 9.5% year-over-year in 2014. New car sales have rebounded significantly since the recession ended in 2009. Total light vehicle retail sales hit 17.55 million in 2016, up from 10.43 million in 2009, according to Autodata Corporation. As a result, there is now a glut of vehicles in the secondary market. 
 
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First Trust Institutional Preferred Securities and Income ETF (FPEI)
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