First Trust Institutional Preferred Securities and Income ETF (FPEI) ETF

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About

No description available.

Exchange: ARCX
Inception: 2017-08-22
Has Options: No

Fund profile

holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings

Taxable Bond Preferred Stock#9 of 30 by assets First Trust Actively managed

Expense ratio: 0.85%
Assets: $1.8B
Trailing yield: 6.06%
Average daily volume: $11M
Holdings: 179
Listed: Aug 22, 2017
Net asset value: $18.49
30-day SEC yield: 5.86%
Closure risk, 12 months: 0.3%

FrenzyCap ETF score

56

how it is built

Cost7

Liquidity68

Scale84

Diversification100

Moves with. US large-cap stocks (28% of its variance, beta 0.16); Long Treasuries (16% of its variance, beta 0.14); Developed markets ex-US over US (5% of its variance, beta 0.07). These factors explain 50% of its daily moves over the last year.

Stated objective. The First Trust Institutional Preferred Securities and Income ETF s (the Fund ) investment objective is to seek total return and to provide current income. (from the fund's prospectus)

All 179 holdings Flow history Overlap tool All Preferred Stock ETFs

Fund flows

through Jul 2026SEC filings

Jul 2026: +$39M
Latest 3 months: +$59M
Latest 12 months: +$303M

View as a table

Net flows of FPEI by month, Aug 2025 to Jul 2026
Month	Net flow
Jul 2026	+$39M
Jun 2026	+$22M
May 2026	−$1.9M
Apr 2026	−$28M
Mar 2026	+$6.3M
Feb 2026	+$50M
Jan 2026	+$49M
Dec 2025	+$17M
Nov 2025	+$24M
Oct 2025	+$44M
Sep 2025	+$56M
Aug 2025	+$26M

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago

Similar funds

Fund	Overlap	Fee	Assets	1Y
PFFiShares Trust iShares Preferred and Income Securities ETF	—	0.45%	$11.9B	−8.1%	compare
FPEFirst Trust Preferred Securities and Income ETF	—	0.83%	$5.8B	−7.5%	compare
PGXInvesco Preferred ETF	—	0.50%	$3.6B	−14.0%	compare
PFFAVirtus InfraCap U.S. Preferred Stock ETF	—	2.11%	$2.3B	−11.5%	compare
PFXFVanEck Preferred Securities ex Financials ETF	—	0.40%	$2.3B	−4.3%	compare

The largest other funds in the Preferred Stock category.

What changed in the portfolio

Jan 31, 2026 → Apr 30, 2026

Action	Holding	Weight before	Weight after	Shares vs flows
Exit	BACPLBANK OF AMERICA CORP	0.20%	—	—

0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.5%. Full holdings and history

Under the hood

fiscal year to Oct 31, 2025SEC census

Authorized participants: 5 active
Created · redeemed: $332M · $90M
Redemptions in kind: 0%
Creation unit: 50,000
Securities lending: authorized, none lent

From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.

ETF Profile

holdings as of 2026-10-20

Holdings

180

AUM

$1.8B

Provider

First Trust

Inception

2017-08-22

Exchange

ARCX

Data As Of

2026-10-20

Expense Ratio

0.85%

Dividend Yield

6.12%

Distribution

Monthly

Recent distributions

Ex-Date	Pay Date	Amount	Type
2026-10-21	2026-10-30	$0.0955	CD
2026-09-24	2026-09-30	$0.0928	CD
2026-08-21	2026-08-31	$0.0973	CD
2026-07-21	2026-07-31	$0.0948	CD
2026-06-25	2026-06-30	$0.0904	CD
2026-05-21	2026-05-29	$0.0986	CD

Asset Allocation

Top Holdings

top 50 of 180 holdings

Symbol	Name	Weight %	Asset Class	Country
—	BANK OF AMERICA CORP Variable rate	3.22%	Corporate Bond	US
—	CITIGROUP INC Series HH, Variable rate	2.16%	Corporate Bond	US
—	CREDIT AGRICOLE SA Variable rate	1.97%	Corporate Bond	FR
—	ING GROEP NV Variable rate	1.74%	Corporate Bond	—
—	BANCO BILBAO VIZCAYA ARGENTARIA Variable rate	1.65%	Corporate Bond	ES
—	ENBRIDGE INC Variable rate, due 01/15/2084	1.54%	Corporate Bond	CA
—	CHARLES SCHWAB CORP Series H, Variable rate	1.48%	Corporate Bond	US
—	BANCO SANTANDER SA Variable rate	1.47%	Corporate Bond	ES
—	BANK OF MONTREAL Variable rate, due 05/26/2084	1.45%	Corporate Bond	CA
—	BNP PARIBAS Variable rate	1.31%	Corporate Bond	FR
—	COMMERZBANK AG Variable rate	1.29%	Corporate Bond	—
—	CANADIAN IMPERIAL BANK Variable rate, due 10/28/2085	1.26%	Corporate Bond	—
—	HSBC HOLDINGS PLC Variable rate	1.24%	Corporate Bond	GB
—	JPMORGAN CHASE & CO Variable rate	1.22%	Corporate Bond	—
—	VERIZON COMMUNICATIONS Variable rate, due 02/15/2057	1.20%	Corporate Bond	—
—	BNP PARIBAS Variable rate	1.19%	Corporate Bond	FR
—	WELLS FARGO & COMPANY Variable rate	1.17%	Corporate Bond	US
—	BARCLAYS PLC Variable rate	1.12%	Corporate Bond	GB
—	NATWEST GROUP PLC Variable rate	1.09%	Corporate Bond	GB
—	WELLS FARGO & COMPANY Variable rate	1.08%	Corporate Bond	US
—	LLOYDS BANKING GROUP PLC Variable rate	1.05%	Corporate Bond	—
—	SOCIETE GENERALE Variable rate	1.05%	Corporate Bond	FR
—	BELL CANADA Variable rate, due 09/15/2055	1.04%	Corporate Bond	CA
—	BANK OF NOVA SCOTIA Variable rate, due 10/27/2085	1.02%	Corporate Bond	CA
—	THE AES CORP Variable rate, due 07/15/2055	1.02%	Corporate Bond	US
—	Wells Fargo & Company, Series L, 7.500%	1.01%	Equity (US)	—
—	ATHENE HOLDING LTD Variable rate, due 06/28/2055	0.97%	Corporate Bond	US
—	EUSHI FINANCE INC Variable rate, due 04/01/2056	0.97%	Corporate Bond	US
—	THE HARTFORD INSUR GRP INC Variable rate, due 02/12/2047	0.97%	Corporate Bond	—
—	SOCIETE GENERALE Variable rate	0.96%	Corporate Bond	FR
—	HUNTINGTON BANCSHARES Variable rate	0.95%	Corporate Bond	—
—	ROYAL BANK OF CANADA Variable rate, due 08/24/2085	0.95%	Corporate Bond	CA
—	AMERICAN ELECTRIC POWER 6.95%, due 12/15/2054	0.94%	Corporate Bond	—
—	GOLDMAN SACHS GROUP INC Variable rate	0.94%	Corporate Bond	US
—	AMERICAN ELECTRIC POWER Variable rate, due 03/15/2056	0.93%	Corporate Bond	—
—	EVERSOURCE ENERGY Variable rate, due 08/15/2056	0.92%	Corporate Bond	—
—	BANCO SANTANDER SA Variable rate	0.90%	Corporate Bond	ES
—	SEMPRA Variable rate, due 10/01/2054	0.89%	Corporate Bond	US
—	DOMINION ENERGY INC Variable rate, due 06/01/2054	0.87%	Corporate Bond	—
—	CREDIT AGRICOLE SA Variable rate	0.85%	Corporate Bond	FR
—	BANK OF NOVA SCOTIA Variable rate, due 01/27/2084	0.82%	Corporate Bond	—
—	BANCO BILBAO VIZCAYA ARGENTARIA Variable rate	0.79%	Corporate Bond	ES
—	BARCLAYS PLC Variable rate	0.79%	Corporate Bond	—
—	GLOBAL ATLANTIC FIN CO Variable rate, due 03/01/2056	0.79%	Corporate Bond	US
—	NORDEA BANK ABP Variable rate	0.78%	Corporate Bond	FI
—	BANK OF NOVA SCOTIA Variable rate, due 04/27/2085	0.77%	Corporate Bond	—
—	CENTERPOINT ENERGY INC Variable rate, due 02/15/2055	0.75%	Corporate Bond	—
—	GLOBAL ATLANTIC FIN CO Variable rate, due 10/15/2054	0.74%	Corporate Bond	US
—	VERIZON COMMUNICATIONS Variable rate, due 02/15/2059	0.74%	Corporate Bond	US
—	DEUTSCHE BANK AG Variable rate	0.71%	Corporate Bond	—

Geographic Breakdown

Non-Equity Breakdown

First Trust Institutional Preferred Securities and Income ETF · NPORT-P period 2026-07-31 (filed 2026-09-24)

Net assets: $1.93B · 174 total positions · equity 1.26% · non-equity 96.86%

Non-equity holdings — 171 positions, 96.86% of NAV

Category	Weight	Value	Positions
Corporate	96.47%	$1.86B	168
US Govt-Sponsored Entity	0.39%	$7.5M	3

Summary

—

composite

—

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart

Seasonality

Month	'21	'22	'23	'24	'25	'26	Avg
Jan	0.00%	-1.57%	4.25%	1.41%	-0.11%	0.00%	0.66%
Feb	-0.22%	-2.51%	-2.76%	0.28%	1.02%	0.05%	-0.69%
Mar	-0.49%	-0.46%	-8.52%	0.89%	-0.64%	-2.16%	-1.90%
Apr	0.89%	-2.91%	0.54%	-1.43%	-1.66%	0.63%	-0.66%
May	0.15%	-1.12%	0.36%	1.61%	1.58%	0.31%	0.48%
Jun	0.66%	-4.58%	0.30%	0.11%	1.55%	0.16%	-0.30%
Jul	0.39%	2.97%	2.19%	0.93%	-0.16%	-0.99%	0.89%
Aug	-0.14%	-1.03%	-1.10%	1.19%	1.00%	-0.73%	-0.14%
Sep	-0.34%	-5.30%	-1.34%	1.65%	0.99%	-2.74%	-1.18%
Oct	-0.46%	0.87%	-1.66%	-1.52%	0.41%	-0.05%*	-0.40%
Nov	-1.39%	1.73%	4.21%	0.43%	-0.10%	--	0.98%
Dec	0.54%	0.91%	3.00%	-0.64%	0.05%	--	0.77%
Total	-0.43%	-12.56%	-1.22%	4.95%	3.95%	-5.44%	-1.79%

Technical Indicators

? Indicator Guide

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators

SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
+DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.

Momentum Oscillators

RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility

Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
ATR / True Range — average daily $ move; sizing and stop-loss reference.
HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $18.50

SMA 50: $18.79

SMA 200: $19.15

Current: $18.39

EMA 12: $18.50

EMA 26: $18.59

MACD: -0.0846 | Signal: 0.0116

BEARISH

ADX (14): 36.28

TREND

+DI: 18.46

−DI: 40.20

Momentum Oscillators

RSI (14): 32.61

NEUTRAL

Stoch %K: 51.61

Stoch %D: 68.40

Williams %R: -84.44

Volume & Volatility

BB Upper: $18.61

BB Lower: $18.38

NEUTRAL

OBV: 4,922,735

Vol SMA 20: 687,072

Vol ROC: 56.17%

ATR: $0.07

True Range: $0.13

HV 20: 5.4%

HV 30: 5.3%

HV 60: 4.2%

Data Summary

Data Points: 500

Last Updated: Oct 21, 5:15 PM ET

Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00

AI Analysis

LLM Stock Analysis Report: FPEI

Executive Summary

BULLISH (Confidence Level: 7/10)

Key Drivers: Strong technical momentum, low volatility, positive news sentiment

Primary Risks: Potential for mean reversion, lack of recent earnings data

Investment Thesis: FPEI's recent price action is driven by strong technical momentum and a favorable risk profile. The stock's low volatility and positive news sentiment suggest it may continue to trend higher in the short term.

Recent News Sentiment Impact: Positive headlines from Yahoo Finance have contributed to the stock's upward momentum, with investors reacting positively to FPEI's recent price action.

Technical Analysis

Trend Direction: Short-term (1-4 weeks): Uptrend

Support/Resistance Levels:

SMA 20: $19.38 (support)
SMA 50: $19.28 (support)
Upper Bollinger Band: $19.50 (resistance)

Momentum Signals: RSI (14): 59.91 (neutral) MACD: 0.03 / Signal: 0.00 / Histogram: 0.03 (bullish momentum) Bollinger Bands: neutral

Volume Analysis: Volume SMA 20: 381248.85, On-Balance Volume (OBV): 11042361.00, Volume Rate of Change: 130.05%

News & Sentiment Analysis

Recent Headlines Summary: FPEI has hit a fresh 52-week high, according to Yahoo Finance.

Sentiment Assessment: Positive sentiment dominates recent news headlines.

Catalyst Identification: No upcoming earnings or product launches announced, but investor interest remains strong.

Market Narrative: The positive market narrative is driven by FPEI's strong technical momentum and low volatility, suggesting the stock may continue to trend higher in the short term.

Risk & Volatility Assessment

Beta Interpretation: Beta: 0.14 (low risk)

Volatility Regime: Stock volatility is relatively low compared to historical levels.

Options Market Signals: No options data available for analysis.

Downside Protection: Support levels at SMA 20 and SMA 50 provide potential downside protection.

Market Context & Positioning

Sector Performance: FPEI's sector has been strong recently, contributing to the stock's upward momentum.

Institutional Activity: Institutional interest remains high, with investors participating in the uptrend.

Correlation Analysis: FPEI is moderately correlated with the broader market (R-squared: 0.59).

Relative Valuation: The stock is positioned within its trading range and may continue to trend higher in the short term.

Key Levels & Action Items

Critical Price Levels: Support at SMA 20 ($19.38) and SMA 50 ($19.28); resistance at Upper Bollinger Band ($19.50).

Breakout/Breakdown Levels: Breakout above Upper Bollinger Band could trigger further price increases; breakdown below SMA 20 could signal a trend reversal.

Time-Sensitive Catalysts: No immediate catalysts announced, but investor interest and market sentiment remain strong.

Risk Management: Stop-loss levels at SMA 50 ($19.28); position sizing considerations favor scaling into the trade.

This report provides an in-depth analysis of FPEI's technical, news, and risk profiles. The stock's recent price action is driven by strong technical momentum and a favorable risk profile, with low volatility and positive news sentiment suggesting it may continue to trend higher in the short term.

Generated Oct 16, 12:42 PM ET

News

All FPEI news →

Filter Publishers:

Seeking AlphaT3·31mo ago

Preferreds Weekly Review: Keep An Eye On The Spread Of Floating-Rate Preferreds

General

MarketWatchT3·45mo ago

10 simple investments that can turn your portfolio into an income dynamo

General

Earnings History

Earnings calendar: this week’s reports with expected vs actual moves →

FPEI Options Activity & IV Rank

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Options Chain

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Spread Scanner GPU

Auto Refresh

? Score Guide Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)

Group 1 · Directional Bias (±0.25)

RSI <40 bullish / >60 bearish
MACD crossover + histogram trend
Price vs SMA 50 & SMA 200

Group 2 · Momentum (±0.10)

Stochastic %K <20 / >80
Williams %R <−80 / >−20

Group 3 · Volatility (up to −0.25 / +0.15)

Blended ATR + straddle expected-move penalty
Bollinger Band signal (+ counter-trend penalty)
BB width — vol contraction boost for ICs

Group 4 · IV Regime (±0.15)

IV rank ≥ 75 → strong boost for credit spreads
IV rank < 25 → penalty (selling cheap vol)

Group 5 · Liquidity (penalty up to −0.10)

Min open interest across all legs
OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Dealer Positioning

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Skew (Wing IV − ATM IV)

DTE:

Wing Δ:

Metric:

? What do these mean

Wing vs ATM

IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.

Risk Reversal

IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.

Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.

14 DTE / 10d —

— pts

ATM — / Wing —

30 DTE / 10d —

— pts

ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Skew Metrics per Expiry ? Guide

Risk Reversal (RR)

IV(10% OTM call) − IV(10% OTM put)

Measures the direction of skew — which side the market is paying up for. Expressed as a vol difference in percentage points.

−3% to −10% → mild to moderate put skew. Normal for most large-cap stocks — puts always carry some premium from portfolio hedging demand.
−10% to −20% → strong put skew. Elevated fear, heavy hedging, or an upcoming catalyst (earnings, macro event). Worth noting.
Below −20% → extreme put skew. Stress signal — market aggressively buying downside protection.
−3% to 0% → nearly symmetric. Rare for equities; means the market sees roughly equal up/down risk.
Positive → calls more expensive than puts. Unusual — signals strong upside momentum, short squeeze risk, or takeover speculation.

Butterfly (BF)

½ × (IV call + IV put) − IV ATM

Measures curvature — how much the wings are bid up relative to ATM. Always expressed as a positive number (wing premium). Think of it as the cost of a tail hedge above and beyond the ATM vol.

0% to 2% → flat smile. Market pricing near-normal return distribution, low tail risk.
2% to 5% → moderate wing premium. Some tail risk priced in — typical in earnings cycles or elevated VIX environments.
Above 5% → high curvature. Fat tails aggressively priced — market expects a large move but is uncertain of direction. Very common right before earnings.

Reading them together

RR	BF	Interpretation
-15%	+5%	Strong put skew + fat tails — fear or upcoming catalyst (earnings, FDA)
-5%	+1%	Normal mild put skew, calm market
-20%	+8%	Extreme fear — heavy hedging, major event risk
~0%	+2%	Balanced market, no strong directional bias
+5%	+3%	Call skew — bullish momentum or short squeeze risk

Expiry	DTE	ATM IV	25d Put IV	25d Call IV	Risk Reversal	Butterfly	Interpretation	Strategy Suggestions (hover for rationale)

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)

IV Rank (30 DTE)

Straddle Price (30 DTE)

Beta Analysis

Risk Metrics

Beta: 0.1904

Alpha: -8.18%

Correlation: 0.5732

R-Squared: 32.9%

Stock Volatility: 4.2%

Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days

Interpretation:
Low volatility - stock moves less than market

Beta & Alpha Over Time

Notable investors who own FPEI

Investor	Value	Share of their portfolio	Rank	Q/Q shares	Source

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

FPEI Institutional Ownership (13F)

Latest filings — 2026-09-30

? 13F Guide

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

Shares — long equity positions in this name, aggregated across share classes.
Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
% of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

227 filers81,020,503 shares$1.56B value

#	Filer	Shares	Value	% of Total	% of Float	Period
1	Morgan Stanley Custodian	19,791,490	$381.78M	24.47%	—	2026-06-30
2	UBS Group AG Custodian	9,981,464	$192.54M	12.34%	—	2026-06-30
3	Bank of America Corp Custodian	6,014,221	$116.01M	7.43%	—	2026-06-30
4	Royal Bank of Canada Custodian	5,319,825	$102.62M	6.58%	—	2026-06-30
5	LPL Financial LLC Custodian	4,503,954	$86.88M	5.57%	—	2026-06-30
6	SMITH CHAS P & ASSOCIATES PA CPAS	2,373,953	$45.79M	2.93%	—	2026-06-30
7	NewEdge Advisors, LLC	2,268,729	$43.76M	2.80%	—	2026-06-30
8	Raymond James Financial, Inc. Custodian	2,073,078	$39.99M	2.56%	—	2026-06-30
9	Montis Financial, LLC	1,903,858	$36.73M	2.35%	—	2026-06-30
10	Envestnet Asset Management, Inc.	1,700,588	$32.80M	2.10%	—	2026-06-30
11	TRUIST FINANCIAL CORP Custodian	1,605,335	$30.97M	1.98%	—	2026-06-30
12	Legacy Edge Advisors, LLC	1,261,093	$24.33M	1.56%	—	2026-06-30
13	FUKOKU MUTUAL LIFE INSURANCE Co	1,259,000	$24.29M	1.56%	—	2026-06-30
14	Annex Advisory Services, LLC	1,217,165	$22.44M	1.44%	—	2026-09-30
15	CITIZENS FINANCIAL GROUP INC/RI	997,535	$19.24M	1.23%	—	2026-06-30
16	OSAIC HOLDINGS, INC. Custodian	770,219	$14.86M	0.95%	—	2026-06-30
17	Cetera Investment Advisers Custodian	704,375	$13.59M	0.87%	—	2026-06-30
18	FIDUCIARY FINANCIAL ADVISORS Custodian	632,338	$12.20M	0.78%	—	2026-06-30
19	INTEGRAL INVESTMENT ADVISORS, INC.	623,023	$12.02M	0.77%	—	2026-06-30
20	Essex LLC	641,282	$11.83M	0.76%	—	2026-09-30
21	HighTower Advisors, LLC	544,884	$10.51M	0.67%	—	2026-06-30
22	McAdam, LLC	539,081	$10.40M	0.67%	—	2026-06-30
23	PARK NATIONAL CORP /OH/	531,455	$9.80M	0.63%	—	2026-09-30
24	Geneos Wealth Management Inc.	499,253	$9.63M	0.62%	—	2026-06-30
25	Baird Financial Group, Inc.	470,809	$9.08M	0.58%	—	2026-06-30

#	Filer	Notional Value	% of Total	Period

#	Filer	Notional Value	% of Total	Period

FPEI Insider Trading (Form 4)

Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.

Filed	Reporter	Role	Action	Shares	Avg Price	Net $	Link

Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

FPEI Proposed Insider Sales (Form 144)

Recent SEC Filings

Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).

Filing Date	Accession	Link

Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.

Filing Date	Accession	Link

Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.

Filing Date	Accession	Link

ETF Holders

#	ETF	Provider	Weight	$ Exposure	ETF AUM	As Of

Fundamentals

? Fundamentals Guide

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics

Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.

How to read the bars

Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
YoY growth — compare to the same quarter a year earlier to remove seasonality.
Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Valuation

? Valuation Guide

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples

P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
EV/Sales — like P/S but accounts for debt + cash. Compare within sector.

Profitability & Yields

ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.

Balance Sheet

Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.

Reading the history chart

Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
Multiples expanding while earnings are flat = sentiment-driven rally.
Multiples compressing while earnings grow = value coming from fundamentals.

Metric:

Short Interest & Float

? Short Interest Guide

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions

Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
SI % of Float — short interest / free float. The key crowding metric.
Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
Free Float — shares available for public trading (total shares minus insider / restricted).
Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.

How to read the signals

SI % of Float < 5% — typical, no particular signal.
5–15% — elevated; watch for catalysts (earnings, guidance, macro).
15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
>30% — extreme; borrow is likely expensive and squeeze risk is material.
Days to Cover > 5 combined with high SI% amplifies squeeze potential.

History chart

Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Metric:

Constituent Performance

Select Timeframe:

Click any bar to view the full quote for that stock.

Constituents

Symbol	Name	Weight %	Price	1 Day	1 Week	1 Month

FPEI First Trust Institutional Preferred Securities and Income ETF