Marshall Investment Management LLC Purchases 127,381 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Marshall Investment Management LLC increased its position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 1,013.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,951 shares of the company’s stock after buying an additional 127,381 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF accounts for 1.4% of Marshall Investment Management LLC’s portfolio, making the stock its 24th largest position. Marshall Investment Management LLC owned about 0.15% of First Trust Institutional Preferred Securities and Income ETF worth $2,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Montis Financial LLC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 14,194.9% during the third quarter. Montis Financial LLC now owns 1,568,581 shares of the company’s stock worth $30,336,000 after acquiring an additional 1,557,608 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 103.1% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,259,000 shares of the company’s stock valued at $24,349,000 after purchasing an additional 639,000 shares in the last quarter. Ocean Park Asset Management LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $6,875,000. Raymond James Financial Inc. grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% during 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 during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of 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 valued at $6,160,000 after purchasing an additional 217,079 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Trading Up 0.3%

Shares of NYSEARCA:FPEI opened at $19.24 on Tuesday. The company’s fifty day moving average is $19.45 and its 200 day moving average is $19.40. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $17.81 and a 52 week high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were paid a dividend of $0.0855 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. 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.