Westview Management dba Westview Investment Advisors Purchases New Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Westview Management dba Westview Investment Advisors purchased a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 385,775 shares of the company’s stock, valued at approximately $7,480,000. First Trust Institutional Preferred Securities and Income ETF comprises 3.6% of Westview Management dba Westview Investment Advisors’ investment portfolio, making the stock its 5th largest holding.

Several other hedge funds have also bought and sold shares of the stock. AE Wealth Management LLC lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 147.3% in 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 during the period. Centaurus Financial Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at $107,000. Calton & Associates Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at $204,000. Advance Capital Management Inc. increased its holdings in 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 buying an additional 2,079 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC increased its holdings in 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 valued at $280,000 after buying an additional 3,196 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.9%

Shares of First Trust Institutional Preferred Securities and Income ETF stock opened at $19.05 on Monday. The firm has a 50-day simple moving average of $19.43 and a two-hundred day simple moving average of $19.40. 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.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued 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 5.4%.

About First Trust Institutional Preferred Securities and Income ETF

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.