First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Should You Buy?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Monday . 585,353 shares changed hands during mid-day trading, an increase of 254% from the previous session’s volume of 165,267 shares.The stock last traded at $48.9750 and had previously closed at $49.02.

First Trust Managed Municipal ETF Stock Performance

The firm has a 50 day simple moving average of $50.19 and a two-hundred day simple moving average of $50.81.

First Trust Managed Municipal ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.158 per share. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 21st.

Institutional Trading of First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its holdings in First Trust Managed Municipal ETF by 124.7% during the second quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after purchasing an additional 25,824 shares in the last quarter. RFG Advisory LLC boosted its stake in First Trust Managed Municipal ETF by 31.4% during the 2nd quarter. RFG Advisory LLC now owns 41,784 shares of the company’s stock valued at $2,146,000 after purchasing an additional 9,987 shares in the last quarter. NewEdge Advisors LLC boosted its stake in First Trust Managed Municipal ETF by 16.1% during the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after purchasing an additional 68,875 shares in the last quarter. Allworth Financial LP increased its position in shares of First Trust Managed Municipal ETF by 7.5% during the 2nd quarter. Allworth Financial LP now owns 95,493 shares of the company’s stock valued at $4,905,000 after purchasing an additional 6,699 shares during the period. Finally, Waverly Advisors LLC increased its position in shares of First Trust Managed Municipal ETF by 0.4% during the 2nd quarter. Waverly Advisors LLC now owns 63,752 shares of the company’s stock valued at $3,275,000 after purchasing an additional 233 shares during the period.

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.