Brand Asset Management Group Inc. Acquires New Holdings in First Trust Institutional Preferred Securities and Income ETF $FPEI

Brand Asset Management Group Inc. bought a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,958 shares of the company’s stock, valued at approximately $521,000.

Several other hedge funds also recently modified their holdings of FPEI. AE Wealth Management LLC raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 147.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $53,000 after purchasing an additional 1,625 shares in the last quarter. Calton & Associates Inc. acquired a new position in First Trust Institutional Preferred Securities and Income ETF during the third quarter worth $204,000. Advance Capital Management Inc. raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 18.6% during the third quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock valued at $256,000 after buying an additional 2,079 shares in the last quarter. Pinnacle Financial Group LLC IL raised its holdings in 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 valued at $264,000 after buying an additional 3,489 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock worth $280,000 after buying an additional 3,196 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.3%

FPEI opened at $19.48 on Friday. The stock has a 50-day moving average of $19.47 and a 200-day moving average of $19.39. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $17.81 and a 52-week high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were issued a dividend of $0.0855 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, February 20th.

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.