First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC lessened its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 56.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 177,348 shares of the company’s stock after selling 227,332 shares during the quarter. Synergy Asset Management LLC owned approximately 0.19% of First Trust Institutional Preferred Securities and Income ETF worth $3,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 13.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 328,185 shares of the company’s stock valued at $6,347,000 after acquiring an additional 39,168 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 202.3% in the second quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after acquiring an additional 217,079 shares during the last quarter. CWM LLC boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.0% in the third quarter. CWM LLC now owns 239,103 shares of the company’s stock worth $4,624,000 after acquiring an additional 50,767 shares during the last quarter. Trustmark Bank Trust Department grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 128.2% in the second quarter. Trustmark Bank Trust Department now owns 65,252 shares of the company’s stock valued at $1,239,000 after purchasing an additional 36,662 shares during the period. Finally, McAdam LLC increased its position in First Trust Institutional Preferred Securities and Income ETF by 29.9% during the third quarter. McAdam LLC now owns 162,584 shares of the company’s stock worth $3,144,000 after purchasing an additional 37,451 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Down 1.6%

NYSEARCA:FPEI opened at $18.80 on Friday. First Trust Institutional Preferred Securities and Income ETF has a fifty-two week low of $17.81 and a fifty-two week high of $19.61. The firm’s 50 day moving average is $19.39 and its two-hundred day moving average is $19.39.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a $0.0855 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend 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.