Grant GrossMendelsohn LLC Buys 745 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Grant GrossMendelsohn LLC grew its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,646 shares of the company’s stock after buying an additional 745 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in First Trust Managed Municipal ETF were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LPL Financial LLC raised its position in shares of First Trust Managed Municipal ETF by 13.6% in the third quarter. LPL Financial LLC now owns 2,311,853 shares of the company’s stock valued at $113,003,000 after purchasing an additional 277,430 shares during the period. UBS Group AG raised its position in shares of First Trust Managed Municipal ETF by 3.7% in the third quarter. UBS Group AG now owns 2,249,392 shares of the company’s stock valued at $109,950,000 after purchasing an additional 80,201 shares during the period. Morgan Stanley raised its position in shares of First Trust Managed Municipal ETF by 2.8% in the third quarter. Morgan Stanley now owns 2,111,708 shares of the company’s stock valued at $103,220,000 after purchasing an additional 56,674 shares during the period. Bank of America Corp DE raised its position in shares of First Trust Managed Municipal ETF by 4.9% in the first quarter. Bank of America Corp DE now owns 1,616,300 shares of the company’s stock valued at $82,327,000 after purchasing an additional 75,075 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 20.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 903,423 shares of the company’s stock valued at $46,675,000 after purchasing an additional 156,465 shares during the period.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB traded down $0.09 during mid-day trading on Monday, hitting $50.92. 177,041 shares of the stock traded hands, compared to its average volume of 165,678. The business’s 50-day moving average price is $51.37 and its 200 day moving average price is $50.62. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $51.77.

First Trust Managed Municipal ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were paid a $0.135 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.62 dividend on an annualized basis and a yield of 3.18%.

First Trust Managed Municipal ETF Company Profile

The First Trust Managed Municipal ETF (FMB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests primarily in investment-grade municipal bonds, with some high-yield exposure. FMB was launched on May 13, 2014 and is managed by First Trust.