Clark Capital Management Group Inc. Decreases Position in First Trust Institutional Preferred Securities and Income ETF $FPEI

Clark Capital Management Group Inc. decreased its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 48.5% in the third quarter, Holdings Channel reports. The firm owned 137,592 shares of the company’s stock after selling 129,767 shares during the period. Clark Capital Management Group Inc.’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $2,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in First Trust Institutional Preferred Securities and Income ETF by 4.6% during the 3rd quarter. Bank of America Corp DE now owns 4,544,959 shares of the company’s stock valued at $87,900,000 after buying an additional 200,889 shares in the last quarter. Creative Planning purchased a new stake in First Trust Institutional Preferred Securities and Income ETF in the third quarter valued at about $810,000. Wayfinding Financial LLC boosted its holdings in First Trust Institutional Preferred Securities and Income ETF by 0.5% in the third quarter. Wayfinding Financial LLC now owns 158,332 shares of the company’s stock worth $3,062,000 after acquiring an additional 860 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in First Trust Institutional Preferred Securities and Income ETF in the third quarter worth about $2,648,000. Finally, Comerica Bank grew its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 2.1% during the third quarter. Comerica Bank now owns 117,068 shares of the company’s stock worth $2,264,000 after acquiring an additional 2,393 shares during the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

FPEI opened at $19.24 on Tuesday. First Trust Institutional Preferred Securities and Income ETF has a 52-week low of $17.81 and a 52-week high of $19.61. The firm’s 50-day moving average price is $19.45 and its 200-day moving average price is $19.40.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a dividend of $0.0855 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, February 20th.

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.