McAdam LLC Acquires 37,451 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

McAdam LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,584 shares of the company’s stock after purchasing an additional 37,451 shares during the period. McAdam LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $3,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Inscription Capital LLC purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter worth approximately $290,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 5.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,611 shares of the company’s stock worth $437,000 after acquiring an additional 1,187 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in First Trust Institutional Preferred Securities and Income ETF by 26.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 95,362 shares of the company’s stock worth $1,844,000 after acquiring an additional 19,884 shares in the last quarter. Montis Financial LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 14,194.9% in the third quarter. Montis Financial LLC now owns 1,568,581 shares of the company’s stock valued at $30,336,000 after acquiring an additional 1,557,608 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in First Trust Institutional Preferred Securities and Income ETF by 1.9% in the third quarter. Citizens Financial Group Inc. RI now owns 969,212 shares of the company’s stock valued at $18,745,000 after acquiring an additional 18,210 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Down 0.4%

Shares of FPEI stock opened at $19.44 on Wednesday. The business has a 50-day moving average price of $19.40 and a two-hundred day moving average price of $19.30. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 21st will be given a $0.0913 dividend. The ex-dividend date is Wednesday, January 21st. This represents a c) dividend on an annualized basis and a yield of 5.6%.

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.