First Trust Institutional Preferred Securities and Income ETF $FPEI Stock Position Reduced by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lessened its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 46.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,930 shares of the company’s stock after selling 31,284 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $695,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FPEI. AE Wealth Management LLC boosted its holdings 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 worth $53,000 after acquiring an additional 1,625 shares in the last quarter. Calton & Associates Inc. bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth $204,000. Advance Capital Management Inc. increased its holdings in shares of 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 worth $256,000 after acquiring an additional 2,079 shares in the last quarter. Pinnacle Financial Group LLC IL raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 33.5% during the 2nd quarter. Pinnacle Financial Group LLC IL now owns 13,891 shares of the company’s stock worth $264,000 after buying an additional 3,489 shares during the period. Finally, Capital Advisors Wealth Management LLC boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.6% during the second quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock worth $280,000 after buying an additional 3,196 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

FPEI opened at $19.53 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $17.81 and a 52-week high of $19.61. The business’s 50-day simple moving average is $19.47 and its 200 day simple moving average is $19.38.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.0855 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is 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.