Tcfg Wealth Management LLC Takes $611,000 Position in First Trust Preferred Securities and Income ETF $FPE

Tcfg Wealth Management LLC purchased a new stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 33,471 shares of the company’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Vermont increased its stake in shares of First Trust Preferred Securities and Income ETF by 85.1% in the 3rd quarter. Trust Co. of Vermont now owns 1,942 shares of the company’s stock worth $35,000 after acquiring an additional 893 shares during the last quarter. Rossby Financial LCC boosted its position in shares of First Trust Preferred Securities and Income ETF by 469.7% during the 3rd quarter. Rossby Financial LCC now owns 2,347 shares of the company’s stock valued at $43,000 after acquiring an additional 1,935 shares during the last quarter. Ameriflex Group Inc. boosted its position in shares of First Trust Preferred Securities and Income ETF by 339.3% during the 3rd quarter. Ameriflex Group Inc. now owns 2,372 shares of the company’s stock valued at $43,000 after acquiring an additional 1,832 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of First Trust Preferred Securities and Income ETF in the third quarter valued at about $61,000. Finally, Private Wealth Asset Management LLC grew its holdings in shares of First Trust Preferred Securities and Income ETF by 595.9% in the third quarter. Private Wealth Asset Management LLC now owns 5,233 shares of the company’s stock valued at $95,000 after purchasing an additional 4,481 shares during the period.

First Trust Preferred Securities and Income ETF Stock Performance

First Trust Preferred Securities and Income ETF stock opened at $17.98 on Thursday. The company has a 50-day moving average price of $18.28 and a 200 day moving average price of $18.28. First Trust Preferred Securities and Income ETF has a 12-month low of $16.77 and a 12-month high of $18.51.

First Trust Preferred Securities and Income ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were issued a dividend of $0.0926 per share. The ex-dividend date was Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. This is an increase from First Trust Preferred Securities and Income ETF’s previous monthly dividend of $0.07.

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.