First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) Hits New 1-Year High – Time to Buy?

First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) hit 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 Price Performance

The firm has a 50 day moving average of $19.43 and a two-hundred day moving average of $19.35.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

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

Hedge Funds Weigh In On First Trust Institutional Preferred Securities and Income ETF

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in First Trust Institutional Preferred Securities and Income ETF during the 4th quarter valued at about $29,000. Colonial Trust Co SC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 137.5% during the fourth quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $37,000 after buying an additional 1,100 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 147.3% during the third quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $53,000 after buying an additional 1,625 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in shares of First Trust Institutional Preferred Securities and Income ETF by 1,876.4% during the fourth quarter. Capital Investment Advisory Services LLC now owns 4,447 shares of the company’s stock valued at $86,000 after acquiring an additional 4,222 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in First Trust Institutional Preferred Securities and Income ETF in the 4th quarter worth approximately $88,000.

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.