First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Reaches New 1-Year High – Here’s Why

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.53 and last traded at $19.5250, with a volume of 19341 shares changing hands. The stock had previously closed at $19.52.

First Trust Institutional Preferred Securities and Income ETF Price Performance

The firm’s fifty day moving average price is $19.44 and its 200 day moving average price is $19.35.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were paid a $0.0913 dividend. The ex-dividend date was Wednesday, January 21st. This represents a c) annualized dividend and a yield of 5.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 13.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 328,185 shares of the company’s stock worth $6,347,000 after purchasing an additional 39,168 shares during the period. Geneos Wealth Management Inc. lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 202.3% in the second quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after purchasing an additional 217,079 shares during the last quarter. Synergy Asset Management LLC boosted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 100.0% during the third quarter. Synergy Asset Management LLC now owns 404,680 shares of the company’s stock valued at $7,685,000 after buying an additional 202,340 shares during the period. Integral Investment Advisors Inc. grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 37.9% during the second quarter. Integral Investment Advisors Inc. now owns 587,075 shares of the company’s stock valued at $11,149,000 after buying an additional 161,461 shares during the last quarter. Finally, Prospera Financial Services Inc grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 419.4% during the second quarter. Prospera Financial Services Inc now owns 264,187 shares of the company’s stock valued at $5,017,000 after buying an additional 213,327 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. FPEI was launched on Aug 22, 2017 and is managed by First Trust.