First Trust Managed Municipal ETF (FMB) to Issue Monthly Dividend of $0.16 on September 30th

First Trust Managed Municipal ETF (NASDAQ:FMB) declared a monthly dividend on Wednesday, September 23rd. Investors of record on Thursday, September 24th will be given a dividend of $0.1590 per share on Wednesday, September 30th. This represents a $1.91 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 24th. This is a 0.6% increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580.

First Trust Managed Municipal ETF Trading Down 0.7%

FMB opened at $48.25 on Friday. The stock has a fifty day simple moving average of $49.99 and a two-hundred day simple moving average of $50.73. First Trust Managed Municipal ETF has a 12-month low of $48.17 and a 12-month high of $52.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in First Trust Managed Municipal ETF by 12.2% in the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after purchasing an additional 221,955 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of First Trust Managed Municipal ETF by 16.1% during the second quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock worth $25,565,000 after purchasing an additional 68,875 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in First Trust Managed Municipal ETF by 11.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock valued at $23,727,000 after purchasing an additional 47,710 shares during the period. Cetera Investment Advisers raised its stake in First Trust Managed Municipal ETF by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock valued at $21,181,000 after purchasing an additional 8,583 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in First Trust Managed Municipal ETF by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after purchasing an additional 21,260 shares in the last quarter.

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.