First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 52-Week High – What’s Next?

Shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) reached a new 52-week high on Thursday . The company traded as high as $19.53 and last traded at $19.5250, with a volume of 19341 shares changing hands. The stock had previously closed at $19.52.

First Trust Institutional Preferred Securities and Income ETF Stock Up 0.0%

The company’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $19.35.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

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

Institutional Investors Weigh In On First Trust Institutional Preferred Securities and Income ETF

A number of large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 1st quarter valued at $1,520,000. CWM LLC grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 14.1% during the second quarter. CWM LLC now owns 188,336 shares of the company’s stock valued at $3,576,000 after buying an additional 23,337 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.9% during the second quarter. Atria Wealth Solutions Inc. now owns 20,405 shares of the company’s stock valued at $387,000 after buying an additional 1,323 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 6.5% in the second quarter. RFG Advisory LLC now owns 158,831 shares of the company’s stock worth $3,016,000 after buying an additional 9,628 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 20.0% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 77,873 shares of the company’s stock valued at $1,479,000 after acquiring an additional 12,983 shares during 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.