Marshall Investment Management LLC Purchases 127,381 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

Marshall Investment Management LLC lifted its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 1,013.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,951 shares of the company’s stock after purchasing an additional 127,381 shares during the period. First Trust Institutional Preferred Securities and Income ETF accounts for approximately 1.4% of Marshall Investment Management LLC’s portfolio, making the stock its 24th largest position. Marshall Investment Management LLC’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $2,707,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. UBS Group AG raised its position in First Trust Institutional Preferred Securities and Income ETF by 2.4% during the 3rd quarter. UBS Group AG now owns 8,827,172 shares of the company’s stock valued at $170,718,000 after purchasing an additional 204,869 shares during the last quarter. Bank of America Corp DE grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 4.6% in the 3rd quarter. Bank of America Corp DE now owns 4,544,959 shares of the company’s stock worth $87,900,000 after buying an additional 200,889 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 5.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,361,031 shares of the company’s stock worth $44,836,000 after buying an additional 113,399 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 12.4% during the second quarter. Raymond James Financial Inc. now owns 2,006,953 shares of the company’s stock valued at $38,112,000 after buying an additional 222,032 shares during the period. Finally, Merit Financial Group LLC increased its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 6.3% during the third quarter. Merit Financial Group LLC now owns 1,653,787 shares of the company’s stock valued at $31,984,000 after buying an additional 97,331 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of First Trust Institutional Preferred Securities and Income ETF stock opened at $19.24 on Tuesday. The business has a 50 day moving average of $19.45 and a 200 day moving average of $19.40. First Trust Institutional Preferred Securities and Income ETF has a 52 week low of $17.81 and a 52 week high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

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

First Trust Institutional Preferred Securities and Income ETF 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.