First Trust Institutional Preferred Securities and Income ETF $FPEI Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC reduced its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,348 shares of the company’s stock after selling 227,332 shares during the quarter. Synergy Asset Management LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $3,439,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AE Wealth Management LLC boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 147.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock worth $53,000 after acquiring an additional 1,625 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter valued at approximately $107,000. Calton & Associates Inc. acquired a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth $204,000. Advance Capital Management Inc. lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 18.6% during the third quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock worth $256,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its stake 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 valued at $280,000 after purchasing an additional 3,196 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Down 1.6%

FPEI opened at $18.80 on Friday. The company has a fifty day simple moving average of $19.39 and a 200 day simple moving average of $19.39. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a $0.0855 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Friday, February 20th.

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.