Clark Capital Management Group Inc. Sells 129,767 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Clark Capital Management Group Inc. lowered its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 48.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,592 shares of the company’s stock after selling 129,767 shares during the period. Clark Capital Management Group Inc. owned about 0.15% of First Trust Institutional Preferred Securities and Income ETF worth $2,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FPEI. Montis Financial LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 14,194.9% during the 3rd 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 raised its holdings 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 worth approximately $6,875,000. Raymond James Financial Inc. lifted its position in shares of 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 worth $38,112,000 after purchasing an additional 222,032 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 202.3% during the second 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 in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

Shares of FPEI stock opened at $19.24 on Tuesday. The company’s 50 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 announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given 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 was Friday, February 20th.

First Trust Institutional Preferred Securities and Income ETF Company 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.