First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 12-Month High – What’s Next?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) reached a new 52-week high on Wednesday . The stock traded as high as $19.58 and last traded at $19.56, with a volume of 218804 shares trading hands. The stock had previously closed at $19.54.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.3%

The stock has a 50 day moving average price of $19.45 and a 200-day moving average price of $19.37.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.0855 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, February 20th.

Hedge Funds Weigh In On First Trust Institutional Preferred Securities and Income ETF

Several institutional investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC grew its position in First Trust Institutional Preferred Securities and Income ETF by 1.1% during the third quarter. Kestra Private Wealth Services LLC now owns 53,221 shares of the company’s stock valued at $1,029,000 after buying an additional 557 shares during the period. 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. 1776 Wealth LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 0.5% during the 4th quarter. 1776 Wealth LLC now owns 125,160 shares of the company’s stock worth $2,427,000 after acquiring an additional 588 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 0.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 182,918 shares of the company’s stock valued at $3,474,000 after acquiring an additional 628 shares during the period. Finally, FWL Investment Management LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 0.9% in the 3rd quarter. FWL Investment Management LLC now owns 73,170 shares of the company’s stock worth $1,415,000 after purchasing an additional 665 shares in the last quarter.

About First Trust Institutional Preferred Securities and Income ETF

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.