First Trust Managed Municipal ETF (NASDAQ:FMB) Hits New 52-Week High – Here’s Why

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) hit a new 52-week high on Tuesday . The company traded as high as $51.48 and last traded at $51.42, with a volume of 16782 shares traded. The stock had previously closed at $51.40.

First Trust Managed Municipal ETF Stock Up 0.0%

The firm’s fifty day moving average is $51.17 and its two-hundred day moving average is $50.57.

First Trust Managed Municipal ETF Announces Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a $0.147 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, December 12th.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sentinel Pension Advisors LLC lifted its stake in shares of First Trust Managed Municipal ETF by 0.9% in the fourth quarter. Sentinel Pension Advisors LLC now owns 53,944 shares of the company’s stock worth $2,758,000 after buying an additional 472 shares in the last quarter. Auour Investments LLC raised its holdings in shares of First Trust Managed Municipal ETF by 16.1% during the fourth quarter. Auour Investments LLC now owns 7,257 shares of the company’s stock valued at $371,000 after purchasing an additional 1,005 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in shares of First Trust Managed Municipal ETF by 11.9% during the fourth quarter. First Heartland Consultants Inc. now owns 130,249 shares of the company’s stock valued at $6,660,000 after purchasing an additional 13,878 shares during the last quarter. Friday Financial grew its position in First Trust Managed Municipal ETF by 111.3% in the 4th quarter. Friday Financial now owns 31,429 shares of the company’s stock worth $1,607,000 after purchasing an additional 16,555 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its stake in First Trust Managed Municipal ETF by 1.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 33,331 shares of the company’s stock valued at $1,704,000 after buying an additional 363 shares during the last quarter.

About First Trust Managed Municipal ETF

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.