Merit Financial Group LLC Grows Stock Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Merit Financial Group LLC lifted its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,653,787 shares of the company’s stock after purchasing an additional 97,331 shares during the period. Merit Financial Group LLC owned about 1.79% of First Trust Institutional Preferred Securities and Income ETF worth $31,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Advisors Wealth Management LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 3.9% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 15,338 shares of the company’s stock worth $297,000 after acquiring an additional 578 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 628 shares during the period. Arkadios Wealth Advisors grew its holdings in First Trust Institutional Preferred Securities and Income ETF by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 38,744 shares of the company’s stock valued at $736,000 after purchasing an additional 953 shares during the period. Viawealth LLC increased its position in First Trust Institutional Preferred Securities and Income ETF by 8.1% in the second quarter. Viawealth LLC now owns 16,434 shares of the company’s stock worth $312,000 after buying an additional 1,230 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.9% in the second quarter. Atria Wealth Solutions Inc. now owns 20,405 shares of the company’s stock worth $387,000 after buying an additional 1,323 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.1%

FPEI stock opened at $19.39 on Wednesday. The business’s 50-day moving average price is $19.39 and its 200-day moving average price is $19.24. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 21st were given a $0.0905 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, November 21st.

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.