Smith Chas P & Associates PA Cpas Reduces Stock Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Smith Chas P & Associates PA Cpas cut its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 39.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,390,674 shares of the company’s stock after selling 901,440 shares during the period. First Trust Institutional Preferred Securities and Income ETF comprises about 2.3% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 15th largest position. Smith Chas P & Associates PA Cpas’ holdings in First Trust Institutional Preferred Securities and Income ETF were worth $26,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 7.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 323,582 shares of the company’s stock valued at $6,258,000 after acquiring an additional 23,133 shares during the last quarter. Pinnacle Financial Group LLC IL boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 61.1% in the third quarter. Pinnacle Financial Group LLC IL now owns 22,377 shares of the company’s stock valued at $433,000 after purchasing an additional 8,486 shares in the last quarter. Brand Asset Management Group Inc. purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at approximately $521,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in First Trust Institutional Preferred Securities and Income ETF by 103.1% in the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,259,000 shares of the company’s stock valued at $24,349,000 after purchasing an additional 639,000 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 64.0% during the third quarter. Integrated Advisors Network LLC now owns 57,265 shares of the company’s stock worth $1,108,000 after purchasing an additional 22,343 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA:FPEI opened at $19.36 on Wednesday. The firm has a 50 day simple moving average of $19.47 and a 200-day simple moving average of $19.39. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month 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. Investors of record on Friday, February 20th were given a $0.0855 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 5.3%.

First Trust Institutional Preferred Securities and Income ETF Company 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.