Adamsbrown Wealth Consultants LLC Decreases Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Adamsbrown Wealth Consultants LLC decreased its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 49.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 436,430 shares of the company’s stock after selling 426,594 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF makes up 2.3% of Adamsbrown Wealth Consultants LLC’s holdings, making the stock its 13th largest holding. Adamsbrown Wealth Consultants LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $8,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 5.0% during the second quarter. NewEdge Advisors LLC now owns 2,361,031 shares of the company’s stock worth $44,836,000 after purchasing an additional 113,399 shares during the last quarter. Raymond James Financial Inc. raised 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 valued at $38,112,000 after acquiring an additional 222,032 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.3% in the third quarter. Merit Financial Group LLC now owns 1,653,787 shares of the company’s stock worth $31,984,000 after buying an additional 97,331 shares during the last quarter. Montis Financial LLC grew 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 purchasing an additional 1,557,608 shares during the period. Finally, Truist Financial Corp boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 8.7% during the 2nd quarter. Truist Financial Corp now owns 1,209,178 shares of the company’s stock worth $22,962,000 after acquiring an additional 96,463 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.1%

Shares of First Trust Institutional Preferred Securities and Income ETF stock opened at $19.44 on Wednesday. The company has a fifty day moving average price of $19.41 and a 200 day moving average price of $19.31. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 21st will be given a $0.0913 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a c) dividend on an annualized basis 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.