First Trust Managed Municipal ETF (NASDAQ:FMB) Reaches New 52-Week High – What’s Next?

First Trust Managed Municipal ETF (NASDAQ:FMB)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $52.31 and last traded at $52.31, with a volume of 9001 shares trading hands. The stock had previously closed at $51.29.

First Trust Managed Municipal ETF Stock Up 2.0%

The business’s fifty day moving average price is $51.10 and its two-hundred day moving average price is $51.23.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were paid a $0.156 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 3.6%.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of large investors have recently made changes to their positions in FMB. LPL Financial LLC grew its position in First Trust Managed Municipal ETF by 8.5% during the fourth quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after buying an additional 181,458 shares during the period. Bank of America Corp DE boosted its position in shares of First Trust Managed Municipal ETF by 12.2% during the 1st 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 period. UBS Group AG increased its stake in First Trust Managed Municipal ETF by 2.1% during the fourth quarter. UBS Group AG now owns 1,836,968 shares of the company’s stock worth $93,933,000 after purchasing an additional 38,553 shares during the period. Raymond James Financial Inc. increased its position in shares of First Trust Managed Municipal ETF by 2.9% during the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after acquiring an additional 34,126 shares during the period. Finally, Composition Wealth LLC grew its position in shares of First Trust Managed Municipal ETF by 8.7% during the fourth quarter. Composition Wealth LLC now owns 1,163,045 shares of the company’s stock worth $59,472,000 after buying an additional 92,945 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.