Westview Management dba Westview Investment Advisors Acquires New Holdings in First Trust Institutional Preferred Securities and Income ETF $FPEI

Westview Management dba Westview Investment Advisors bought a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 385,775 shares of the company’s stock, valued at approximately $7,480,000. First Trust Institutional Preferred Securities and Income ETF makes up about 3.6% of Westview Management dba Westview Investment Advisors’ portfolio, making the stock its 5th largest holding. Westview Management dba Westview Investment Advisors owned approximately 0.41% of First Trust Institutional Preferred Securities and Income ETF as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maridea Wealth Management LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the fourth quarter valued at $380,000. QP Wealth Management LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth $1,264,000. Park National Corp OH raised its stake in First Trust Institutional Preferred Securities and Income ETF by 25.4% in the 4th quarter. Park National Corp OH now owns 114,940 shares of the company’s stock worth $2,229,000 after acquiring an additional 23,295 shares during the last quarter. Park Avenue Securities LLC lifted its position in First Trust Institutional Preferred Securities and Income ETF by 4.3% during the 4th quarter. Park Avenue Securities LLC now owns 50,710 shares of the company’s stock worth $983,000 after acquiring an additional 2,096 shares during the period. Finally, IFP Advisors Inc lifted its position in First Trust Institutional Preferred Securities and Income ETF by 126.6% during the 3rd quarter. IFP Advisors Inc now owns 23,119 shares of the company’s stock worth $447,000 after acquiring an additional 12,917 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Trading Down 0.9%

First Trust Institutional Preferred Securities and Income ETF stock opened at $19.05 on Monday. The business’s 50-day simple moving average is $19.43 and its two-hundred day simple moving average is $19.40. 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.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a dividend of $0.0855 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

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.