McAdam LLC Grows Stock Holdings in First Trust Institutional Preferred Securities and Income ETF $FPEI

McAdam LLC grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,584 shares of the company’s stock after acquiring an additional 37,451 shares during the period. McAdam LLC owned 0.18% of First Trust Institutional Preferred Securities and Income ETF worth $3,144,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FPEI. Montis Financial LLC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 14,194.9% during the 3rd quarter. Montis Financial LLC now owns 1,568,581 shares of the company’s stock valued at $30,336,000 after purchasing an additional 1,557,608 shares during the period. Citizens Financial Group Inc. RI grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 65.6% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 951,002 shares of the company’s stock valued at $18,060,000 after buying an additional 376,887 shares in the last quarter. Ocean Park Asset Management LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at about $6,875,000. Raymond James Financial Inc. lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% in the second quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock worth $38,112,000 after buying an additional 222,032 shares in the last quarter. Finally, 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 valued at $6,160,000 after acquiring an additional 217,079 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.4%

Shares of NYSEARCA:FPEI opened at $19.44 on Wednesday. The company has a 50 day moving average of $19.40 and a 200 day moving average of $19.30. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.81 and a 12 month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st will be issued a $0.0913 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a c) annualized dividend and a dividend yield of 5.6%.

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.