Smith Chas P & Associates PA Cpas Trims Stake in First Trust Institutional Preferred Securities and Income ETF $FPEI

Smith Chas P & Associates PA Cpas lessened its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 39.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,390,674 shares of the company’s stock after selling 901,440 shares during the period. First Trust Institutional Preferred Securities and Income ETF makes up 2.3% of Smith Chas P & Associates PA Cpas’ investment portfolio, making the stock its 15th largest position. Smith Chas P & Associates PA Cpas owned 1.51% of First Trust Institutional Preferred Securities and Income ETF worth $26,896,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Advisors Wealth Management LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 3.9% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 15,338 shares of the company’s stock valued at $297,000 after buying an additional 578 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 0.3% during the second quarter. Rockefeller Capital Management L.P. now owns 182,918 shares of the company’s stock valued at $3,474,000 after acquiring an additional 628 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 1.9% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 40,762 shares of the company’s stock valued at $788,000 after acquiring an additional 742 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 2.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 38,744 shares of the company’s stock worth $736,000 after acquiring an additional 953 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 5.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,611 shares of the company’s stock worth $437,000 after acquiring an additional 1,187 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.3%

NYSEARCA:FPEI opened at $19.36 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a fifty-two week low of $17.81 and a fifty-two week high of $19.61. The company has a 50 day moving average price of $19.47 and a 200 day moving average price of $19.39.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.0855 per share. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, February 20th.

First Trust Institutional Preferred Securities and Income ETF 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.