Flynn Zito Capital Management LLC Invests $2.08 Million in First Trust Institutional Preferred Securities and Income ETF $FPEI

Flynn Zito Capital Management LLC purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 107,694 shares of the company’s stock, valued at approximately $2,083,000. First Trust Institutional Preferred Securities and Income ETF accounts for approximately 0.8% of Flynn Zito Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Flynn Zito Capital Management LLC owned 0.12% of First Trust Institutional Preferred Securities and Income ETF as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Montis Financial LLC boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 14,194.9% in the third quarter. Montis Financial LLC now owns 1,568,581 shares of the company’s stock valued at $30,336,000 after acquiring an additional 1,557,608 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 65.6% during the second quarter. Citizens Financial Group Inc. RI now owns 951,002 shares of the company’s stock worth $18,060,000 after purchasing an additional 376,887 shares in the last quarter. Ocean Park Asset Management LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at about $6,875,000. Raymond James Financial Inc. boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 12.4% in the 2nd quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock valued at $38,112,000 after purchasing an additional 222,032 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in First Trust Institutional Preferred Securities and Income ETF by 202.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after purchasing an additional 217,079 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of FPEI stock opened at $19.47 on Wednesday. The stock has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $19.33. 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 firm also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were given a $0.0913 dividend. The ex-dividend date was Wednesday, January 21st. This represents a c) annualized dividend and a yield of 5.6%.

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.