Ironwood Investment Counsel LLC Grows Position in First Trust Preferred Securities and Income ETF $FPE

Ironwood Investment Counsel LLC raised its position in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 24.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,910 shares of the company’s stock after purchasing an additional 45,924 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in First Trust Preferred Securities and Income ETF were worth $4,321,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of First Trust Preferred Securities and Income ETF by 1.2% in the second quarter. Bank of America Corp DE now owns 7,226,544 shares of the company’s stock worth $128,632,000 after buying an additional 83,365 shares during the period. Gallagher Fiduciary Advisors LLC grew its position in First Trust Preferred Securities and Income ETF by 1,719.9% in the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 3,675,202 shares of the company’s stock valued at $65,419,000 after acquiring an additional 3,473,262 shares during the last quarter. Ameriprise Financial Inc. grew its position in First Trust Preferred Securities and Income ETF by 1.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,499,674 shares of the company’s stock valued at $62,299,000 after acquiring an additional 35,076 shares during the last quarter. Advisory Alpha LLC increased its stake in First Trust Preferred Securities and Income ETF by 4.6% in the second quarter. Advisory Alpha LLC now owns 2,092,069 shares of the company’s stock worth $37,239,000 after purchasing an additional 91,884 shares during the period. Finally, State of Tennessee Department of Treasury lifted its position in shares of First Trust Preferred Securities and Income ETF by 58.0% during the second quarter. State of Tennessee Department of Treasury now owns 1,832,300 shares of the company’s stock worth $32,615,000 after purchasing an additional 672,400 shares during the last quarter.

First Trust Preferred Securities and Income ETF Price Performance

Shares of FPE stock opened at $18.33 on Friday. First Trust Preferred Securities and Income ETF has a 52-week low of $16.77 and a 52-week high of $18.51. The company’s 50 day moving average is $18.27 and its 200 day moving average is $18.23.

First Trust Preferred Securities and Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were given a $0.0683 dividend. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, January 21st.

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. FPE was launched on Feb 12, 2013 and is managed by First Trust.