StoneCrest Wealth Management Inc. Purchases New Shares in First Trust Institutional Preferred Securities and Income ETF $FPEI

StoneCrest Wealth Management Inc. acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) during the 4th quarter, Holdings Channel reports. The firm acquired 105,883 shares of the company’s stock, valued at approximately $2,053,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Montis Financial LLC boosted its position 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 during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in First Trust Institutional Preferred Securities and Income ETF by 103.1% during the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,259,000 shares of the company’s stock worth $24,349,000 after acquiring an additional 639,000 shares during the period. Westview Management dba Westview Investment Advisors acquired a new stake in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth about $7,480,000. Ocean Park Asset Management LLC acquired a new stake in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth about $6,875,000. Finally, 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 during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA:FPEI opened at $19.04 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.61. The company’s 50 day moving average price is $19.34 and its two-hundred day moving average price is $19.38.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a dividend of $0.0855 per share. 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.