AMERICAN PUBLIC EDUCATION IN

Ticker: APEI CUSIP: 02913V103 Class: Common Stock

HOWE & RUSLING INC's Holding History (CIK: 0000769963)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 1,785 Value ($000) $33 Avg Close $21.97 Range $18.56 - $25.17

Q3 2015

Shares 2,465 Value ($000) $58 Avg Close $23.89 Range $19.22 - $27.26

Q2 2015

Shares 2,440 Value ($000) $63 Avg Close $26.99 Range $21.30 - $32.56

Q1 2015

Shares 1,750 Value ($000) $52 Avg Close $33.33 Range $29.13 - $37.08

Q4 2014

Shares 1,965 Value ($000) $72 Avg Close $32.47 Range $26.24 - $37.46

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	1,785	$33	$21.97	$18.56 - $25.17
Q3 2015	2,465	$58	$23.89	$19.22 - $27.26
Q2 2015	2,440	$63	$26.99	$21.30 - $32.56
Q1 2015	1,750	$52	$33.33	$29.13 - $37.08
Q4 2014	1,965	$72	$32.47	$26.24 - $37.46