A New Professional Way To Play Preferreds

With U.S. interest rates still near historic lows and other major developed markets sporting even more piddly sovereign debt yields, income investors continue embracing unique, high-yield asset classes such as preferred stocks.

The universe of preferred exchange-traded funds grew Thursday with the debut of the First Trust Institutional Preferred Securities and Income ETF (NYSE: FPEI). FPEI joins the First Trust Preferred Securities and Income ETF (NYSE: FPE) as the preferred ETFs in the First Trust stable. The First Trust Preferred Securities and Income ETF debuted over four years ago and is one of the largest preferred stock ETFs with more than $2.6 billion in assets under management.

The new FPEI is an actively managed ETF, adding to First Trust’s extensive lineup of …

Full story available on Benzinga.com

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