Key Financial Inc Reduces Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Key Financial Inc lessened its holdings in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 4.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 403,869 shares of the company’s stock after selling 20,596 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF comprises approximately 1.5% of Key Financial Inc’s portfolio, making the stock its 14th biggest holding. Key Financial Inc’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $7,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of FPEI. Zions Bancorporation National Association UT purchased a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the 1st quarter worth $94,000. Greenwood Capital Associates LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the second quarter valued at approximately $202,000. DAVENPORT & Co LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the first quarter valued at approximately $205,000. Montis Financial LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the second quarter valued at approximately $208,000. Finally, WealthShield Partners LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF during the first quarter valued at approximately $217,000.

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

Shares of NYSEARCA:FPEI opened at $19.42 on Tuesday. First Trust Institutional Preferred Securities and Income ETF has a 1-year low of $17.81 and a 1-year high of $19.51. The firm’s 50 day simple moving average is $19.35 and its two-hundred day simple moving average is $19.02.

First Trust Institutional Preferred Securities and Income ETF Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.0905 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a c) annualized dividend and a 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.