First Trust Managed Municipal ETF (NASDAQ:FMB) Reaches New 12-Month Low – Time to Sell?

First Trust Managed Municipal ETF (NASDAQ:FMB) hit a new 52-week low on Wednesday . The stock traded as low as $49.57 and last traded at $49.60, with a volume of 249180 shares traded. The stock had previously closed at $49.65.

First Trust Managed Municipal ETF Stock Performance

The business has a 50-day simple moving average of $50.54 and a 200-day simple moving average of $50.96.

First Trust Managed Municipal ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a dividend of $0.158 per share. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, August 21st. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FMB. TrueWealth Financial Partners bought a new position in First Trust Managed Municipal ETF during the fourth quarter valued at $12,720,000. Bank of America Corp DE lifted its holdings in shares of First Trust Managed Municipal ETF by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after acquiring an additional 221,955 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of First Trust Managed Municipal ETF by 2,668.1% during the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after purchasing an additional 182,683 shares during the period. LPL Financial LLC boosted its stake in shares of First Trust Managed Municipal ETF by 8.5% during the 4th quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock worth $118,046,000 after purchasing an additional 181,458 shares during the period. Finally, Fifth Third Bancorp grew its holdings in First Trust Managed Municipal ETF by 3,413.5% during the 1st quarter. Fifth Third Bancorp now owns 86,924 shares of the company’s stock valued at $4,404,000 after purchasing an additional 84,450 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.