Price Capital Management Inc. Buys New Position in First Trust Preferred Securities and Income ETF $FPE

Price Capital Management Inc. purchased a new stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 402,920 shares of the company’s stock, valued at approximately $7,350,000. First Trust Preferred Securities and Income ETF makes up 8.6% of Price Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Price Capital Management Inc. owned 0.12% of First Trust Preferred Securities and Income ETF at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Visionary Wealth Advisors lifted its position in shares of First Trust Preferred Securities and Income ETF by 0.9% in the 2nd quarter. Visionary Wealth Advisors now owns 69,297 shares of the company’s stock worth $1,233,000 after purchasing an additional 634 shares during the period. Jaffetilchin Investment Partners LLC increased its position in shares of First Trust Preferred Securities and Income ETF by 1.0% during the second quarter. Jaffetilchin Investment Partners LLC now owns 62,151 shares of the company’s stock valued at $1,106,000 after buying an additional 636 shares during the period. Synovus Financial Corp raised its stake in First Trust Preferred Securities and Income ETF by 0.8% in the third quarter. Synovus Financial Corp now owns 82,444 shares of the company’s stock worth $1,504,000 after buying an additional 648 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in First Trust Preferred Securities and Income ETF by 0.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 86,611 shares of the company’s stock worth $1,580,000 after buying an additional 653 shares in the last quarter. Finally, American Institute for Advanced Investment Management LLP lifted its holdings in First Trust Preferred Securities and Income ETF by 3.5% in the second quarter. American Institute for Advanced Investment Management LLP now owns 25,425 shares of the company’s stock worth $453,000 after buying an additional 850 shares during the period.

First Trust Preferred Securities and Income ETF Stock Down 0.4%

First Trust Preferred Securities and Income ETF stock opened at $18.39 on Monday. First Trust Preferred Securities and Income ETF has a fifty-two week low of $16.77 and a fifty-two week high of $18.51. The stock’s 50 day simple moving average is $18.30 and its two-hundred day simple moving average is $18.27.

First Trust Preferred Securities and Income ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a dividend of $0.0926 per share. This is a boost from First Trust Preferred Securities and Income ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, February 20th.

First Trust Preferred Securities and Income ETF Company Profile

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum. FPE was launched on Feb 12, 2013 and is managed by First Trust.