FUKOKU MUTUAL LIFE INSURANCE Co Purchases 639,000 Shares of First Trust Institutional Preferred Securities and Income ETF $FPEI

FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 103.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,259,000 shares of the company’s stock after purchasing an additional 639,000 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF comprises about 1.5% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 26th biggest holding. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in First Trust Institutional Preferred Securities and Income ETF were worth $24,349,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital Advisors Wealth Management LLC boosted its stake in shares of First Trust Institutional Preferred Securities and Income ETF by 3.9% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 15,338 shares of the company’s stock valued at $297,000 after purchasing an additional 578 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 0.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 182,918 shares of the company’s stock valued at $3,474,000 after purchasing an additional 628 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in First Trust Institutional Preferred Securities and Income ETF by 1.9% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 40,762 shares of the company’s stock worth $788,000 after buying an additional 742 shares during the period. Arkadios Wealth Advisors lifted its stake in First Trust Institutional Preferred Securities and Income ETF by 2.5% in the second quarter. Arkadios Wealth Advisors now owns 38,744 shares of the company’s stock valued at $736,000 after buying an additional 953 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of First Trust Institutional Preferred Securities and Income ETF by 5.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,611 shares of the company’s stock valued at $437,000 after buying an additional 1,187 shares during the period.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

Shares of NYSEARCA:FPEI opened at $19.53 on Friday. First Trust Institutional Preferred Securities and Income ETF has a 12 month low of $17.81 and a 12 month high of $19.61. The company’s fifty day simple moving average is $19.47 and its 200 day simple moving average is $19.38.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a $0.0855 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is 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.