First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 68.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,941 shares of the company’s stock after buying an additional 94,670 shares during the period. HighTower Advisors LLC owned about 0.25% of First Trust Institutional Preferred Securities and Income ETF worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in First Trust Institutional Preferred Securities and Income ETF by 147.3% during the third quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock worth $53,000 after acquiring an additional 1,625 shares during the period. Advance Capital Management Inc. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 18.6% in the third quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock valued at $256,000 after purchasing an additional 2,079 shares during the period. Pinnacle Financial Group LLC IL increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 33.5% during the second quarter. Pinnacle Financial Group LLC IL now owns 13,891 shares of the company’s stock worth $264,000 after purchasing an additional 3,489 shares in the last quarter. Capital Advisors Wealth Management LLC raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.6% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock worth $280,000 after purchasing an additional 3,196 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at about $290,000.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.1%

FPEI stock opened at $19.53 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.61. The business’s 50-day moving average is $19.46 and its 200 day moving average is $19.38.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.0855 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

First Trust Institutional Preferred Securities and Income ETF Profile

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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.