First Trust Institutional Preferred Securities and Income ETF $FPEI Holdings Reduced by Adamsbrown Wealth Consultants LLC

Adamsbrown Wealth Consultants LLC cut its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 49.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,430 shares of the company’s stock after selling 426,594 shares during the period. First Trust Institutional Preferred Securities and Income ETF accounts for about 2.3% of Adamsbrown Wealth Consultants LLC’s investment portfolio, making the stock its 13th largest position. Adamsbrown Wealth Consultants LLC owned approximately 0.47% of First Trust Institutional Preferred Securities and Income ETF worth $8,441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FPEI. Greenwood Capital Associates LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 2nd quarter worth $202,000. Advance Capital Management Inc. raised its stake in First Trust Institutional Preferred Securities and Income ETF by 18.6% during the 3rd quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock valued at $256,000 after purchasing an additional 2,079 shares during the period. Pinnacle Financial Group LLC IL lifted its holdings in First Trust Institutional Preferred Securities and Income ETF by 33.5% in the 2nd quarter. Pinnacle Financial Group LLC IL now owns 13,891 shares of the company’s stock worth $264,000 after purchasing an additional 3,489 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 27.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock worth $280,000 after buying an additional 3,196 shares in the last quarter. Finally, Inscription Capital LLC bought a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at about $290,000.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of FPEI opened at $19.44 on Wednesday. The company’s 50-day moving average price is $19.41 and its 200 day moving average price is $19.31. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 21st will be paid a $0.0913 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, January 21st.

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.