107,694 Shares in First Trust Institutional Preferred Securities and Income ETF $FPEI Acquired by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 107,694 shares of the company’s stock, valued at approximately $2,083,000. First Trust Institutional Preferred Securities and Income ETF makes up approximately 0.8% of Flynn Zito Capital Management LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds also recently bought and sold shares of the company. J.W. Cole Advisors Inc. raised its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 14.9% in the third quarter. J.W. Cole Advisors Inc. now owns 174,067 shares of the company’s stock worth $3,366,000 after acquiring an additional 22,512 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in First Trust Institutional Preferred Securities and Income ETF by 13.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 88,591 shares of the company’s stock worth $1,713,000 after purchasing an additional 10,718 shares in the last quarter. Winnow Wealth LLC acquired a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at about $828,000. Ritter Daniher Financial Advisory LLC DE purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at about $941,000. Finally, AE Wealth Management LLC lifted 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 valued at $53,000 after purchasing an additional 1,625 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA FPEI opened at $19.47 on Wednesday. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.81 and a 12 month high of $19.53. The company has a 50-day simple moving average of $19.42 and a 200-day simple moving average of $19.33.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 21st were paid a $0.0913 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Wednesday, January 21st.

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.