Truist Financial Corp Boosts Holdings in First Trust Institutional Preferred Securities and Income ETF $FPEI

Truist Financial Corp boosted its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,313,802 shares of the company’s stock after acquiring an additional 104,624 shares during the period. Truist Financial Corp’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $25,409,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Greenwood Capital Associates LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the second quarter worth $202,000. Advance Capital Management Inc. raised its position in shares of First Trust Institutional Preferred Securities and Income ETF by 18.6% during the third quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock valued at $256,000 after buying an additional 2,079 shares during the last quarter. Pinnacle Financial Group LLC IL raised its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 33.5% in the 2nd quarter. Pinnacle Financial Group LLC IL now owns 13,891 shares of the company’s stock valued at $264,000 after buying an additional 3,489 shares in the last quarter. Capital Advisors Wealth Management LLC grew its position in First Trust Institutional Preferred Securities and Income ETF by 27.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock valued at $280,000 after acquiring an additional 3,196 shares during the period. Finally, Inscription Capital LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the 3rd quarter worth approximately $290,000.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

FPEI stock opened at $19.44 on Friday. The business has a fifty day moving average of $19.41 and a 200-day moving average of $19.32. First Trust Institutional Preferred Securities and Income ETF has a twelve month low of $17.81 and a twelve month high of $19.53.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

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

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.