Elevation Wealth Partners LLC Has $942,000 Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Elevation Wealth Partners LLC lessened its position in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,560 shares of the company’s stock after selling 115,568 shares during the period. Elevation Wealth Partners LLC owned about 0.05% of First Trust Institutional Preferred Securities and Income ETF worth $942,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 13.6% during the third 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. raised 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 valued at $6,160,000 after buying an additional 217,079 shares during the period. Synergy Asset Management LLC raised its stake in First Trust Institutional Preferred Securities and Income ETF by 100.0% in 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. CWM LLC lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.0% in the third quarter. CWM LLC now owns 239,103 shares of the company’s stock valued at $4,624,000 after buying an additional 50,767 shares during the last quarter. Finally, Trustmark Bank Trust Department lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 128.2% in the second quarter. Trustmark Bank Trust Department now owns 65,252 shares of the company’s stock valued at $1,239,000 after buying an additional 36,662 shares during the last quarter.

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

Shares of NYSEARCA FPEI opened at $19.05 on Monday. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.81 and a 12 month high of $19.61. The stock has a 50 day moving average of $19.43 and a 200-day moving average of $19.40.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders 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) annualized dividend and a yield of 5.4%.

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.