McMahon Financial Advisors LLC Invests $2.61 Million in First Trust Preferred Securities and Income ETF (FPE) Stock

McMahon Financial Advisors LLC bought a new stake in shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) in the first quarter, HoldingsChannel reports. The institutional investor bought 137,185 shares of the company’s stock, valued at approximately $2,612,000. First Trust Preferred Securities and Income ETF makes up about 1.7% of McMahon Financial Advisors LLC’s portfolio, making the stock its 16th largest position.

A number of other hedge funds have also made changes to their positions in FPE. Wells Fargo & Company MN increased its holdings in First Trust Preferred Securities and Income ETF by 12.5% during the third quarter. Wells Fargo & Company MN now owns 63,209 shares of the company’s stock valued at $1,207,000 after buying an additional 7,030 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in First Trust Preferred Securities and Income ETF during the third quarter valued at approximately $249,000. B. Riley Wealth Management Inc. purchased a new stake in First Trust Preferred Securities and Income ETF during the third quarter valued at approximately $1,986,000. Csenge Advisory Group increased its holdings in First Trust Preferred Securities and Income ETF by 22.0% during the third quarter. Csenge Advisory Group now owns 215,544 shares of the company’s stock valued at $4,047,000 after buying an additional 38,883 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in First Trust Preferred Securities and Income ETF during the third quarter valued at approximately $1,432,000.

Shares of NYSEARCA FPE traded up $0.02 during midday trading on Monday, reaching $19.23. The stock had a trading volume of 716,547 shares, compared to its average volume of 1,072,259. First Trust Preferred Securities and Income ETF has a 12-month low of $17.76 and a 12-month high of $19.45.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 24th will be paid a $0.0769 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.80%.

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Want to see what other hedge funds are holding FPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Trust Preferred Securities and Income ETF (NYSEARCA:FPE).

Institutional Ownership by Quarter for First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

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