First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 52-Week High – What’s Next?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $19.53 and last traded at $19.38, with a volume of 544967 shares. The stock had previously closed at $19.38.

First Trust Institutional Preferred Securities and Income ETF Price Performance

The stock’s 50-day moving average price is $19.39 and its 200 day moving average price is $19.07.

First Trust Institutional Preferred Securities and Income ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a $0.0905 dividend. The ex-dividend date is Monday, November 3rd. This represents a c) dividend on an annualized basis and a yield of 5.6%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wayfinding Financial LLC increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 0.5% in the third quarter. Wayfinding Financial LLC now owns 158,332 shares of the company’s stock valued at $3,062,000 after purchasing an additional 860 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at $2,648,000. Comerica Bank increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.1% in the 3rd quarter. Comerica Bank now owns 117,068 shares of the company’s stock worth $2,264,000 after acquiring an additional 2,393 shares during the last quarter. Hobbs Group Advisors LLC raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 20.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 32,582 shares of the company’s stock worth $630,000 after acquiring an additional 5,434 shares during the period. Finally, UBS Group AG boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 2.4% during the 3rd quarter. UBS Group AG now owns 8,827,172 shares of the company’s stock valued at $170,718,000 after acquiring an additional 204,869 shares during the last quarter.

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.