Essex LLC Decreases Stake in First Trust Institutional Preferred Securities and Income ETF $FPEI

Essex LLC cut its stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 11.2% during the third quarter, HoldingsChannel.com reports. The firm owned 678,086 shares of the company’s stock after selling 85,532 shares during the period. First Trust Institutional Preferred Securities and Income ETF accounts for about 2.4% of Essex LLC’s portfolio, making the stock its 11th largest position. Essex LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $13,114,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FPEI. Annex Advisory Services LLC purchased a new stake in First Trust Institutional Preferred Securities and Income ETF during the second quarter worth about $15,970,000. Citizens Financial Group Inc. RI lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF by 65.6% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 951,002 shares of the company’s stock valued at $18,060,000 after acquiring an additional 376,887 shares during the period. Ocean Park Asset Management LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $6,875,000. Raymond James Financial Inc. boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% during the 2nd quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock worth $38,112,000 after acquiring an additional 222,032 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 202.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 324,397 shares of the company’s stock worth $6,160,000 after acquiring an additional 217,079 shares during the period.

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

Shares of FPEI stock opened at $19.47 on Friday. The stock has a fifty day moving average price of $19.39 and a 200 day moving average price of $19.26. First Trust Institutional Preferred Securities and Income ETF has a 1 year low of $17.81 and a 1 year high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Announces Dividend

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

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.