Key Financial Inc Lowers Stake in First Trust Institutional Preferred Securities and Income ETF $FPEI

Key Financial Inc reduced its position in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) by 4.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 403,869 shares of the company’s stock after selling 20,596 shares during the quarter. First Trust Institutional Preferred Securities and Income ETF accounts for about 1.5% of Key Financial Inc’s investment portfolio, making the stock its 14th biggest holding. Key Financial Inc owned 0.47% of First Trust Institutional Preferred Securities and Income ETF worth $7,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 9.1% during the 1st quarter. LPL Financial LLC now owns 3,837,937 shares of the company’s stock valued at $71,769,000 after purchasing an additional 319,485 shares in the last quarter. Royal Bank of Canada increased its stake in First Trust Institutional Preferred Securities and Income ETF by 11.9% during the 1st quarter. Royal Bank of Canada now owns 3,334,754 shares of the company’s stock valued at $62,360,000 after purchasing an additional 355,102 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in First Trust Institutional Preferred Securities and Income ETF by 18.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,463,341 shares of the company’s stock valued at $46,064,000 after purchasing an additional 375,497 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its stake in First Trust Institutional Preferred Securities and Income ETF by 2.2% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 2,292,114 shares of the company’s stock valued at $43,527,000 after purchasing an additional 49,272 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in First Trust Institutional Preferred Securities and Income ETF by 7.8% during the 2nd quarter. Merit Financial Group LLC now owns 1,556,456 shares of the company’s stock valued at $29,557,000 after purchasing an additional 112,753 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Stock Performance

NYSEARCA:FPEI opened at $19.42 on Tuesday. First Trust Institutional Preferred Securities and Income ETF has a fifty-two week low of $17.81 and a fifty-two week high of $19.51. The firm has a 50-day simple moving average of $19.35 and a two-hundred day simple moving average of $19.02.

First Trust Institutional Preferred Securities and Income ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.0905 per share. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, November 3rd.

First Trust Institutional Preferred Securities and Income ETF Company 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.