First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Sold by Flagstar Advisors Inc.

Flagstar Advisors Inc. decreased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 46.2% in the 4th quarter, Holdings Channel reports. The firm owned 31,005 shares of the company’s stock after selling 26,602 shares during the quarter. Flagstar Advisors Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the first quarter valued at approximately $1,520,000. J.W. Cole Advisors Inc. lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 231.8% in the second quarter. J.W. Cole Advisors Inc. now owns 151,555 shares of the company’s stock valued at $2,878,000 after buying an additional 105,876 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 5.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,478 shares of the company’s stock worth $1,262,000 after acquiring an additional 3,236 shares during the last quarter. Trustmark Bank Trust Department increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 128.2% in the 2nd quarter. Trustmark Bank Trust Department now owns 65,252 shares of the company’s stock worth $1,239,000 after acquiring an additional 36,662 shares during the period. Finally, First Trust Advisors LP boosted its stake in First Trust Institutional Preferred Securities and Income ETF by 7.9% during the 2nd quarter. First Trust Advisors LP now owns 262,064 shares of the company’s stock valued at $4,977,000 after purchasing an additional 19,155 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

NYSEARCA FPEI opened at $18.80 on Friday. The company has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $19.39. 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 firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a dividend of $0.0855 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) annualized dividend and a yield of 5.5%.

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.