Gateway Wealth Partners LLC Invests $2.41 Million in First Trust Managed Municipal ETF $FMB

Gateway Wealth Partners LLC purchased a new stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 47,442 shares of the company’s stock, valued at approximately $2,405,000. Gateway Wealth Partners LLC owned 0.13% of First Trust Managed Municipal ETF at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. raised its position in shares of First Trust Managed Municipal ETF by 2.9% in the 2nd 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 in the last quarter. Miracle Mile Advisors LLC lifted its position in First Trust Managed Municipal ETF by 50.3% during the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock valued at $54,256,000 after buying an additional 358,121 shares during the period. Avantax Planning Partners Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 7.6% during the 3rd quarter. Avantax Planning Partners Inc. now owns 899,949 shares of the company’s stock valued at $45,629,000 after buying an additional 63,619 shares in the last quarter. CW Advisors LLC grew its position in shares of First Trust Managed Municipal ETF by 0.6% in the 2nd quarter. CW Advisors LLC now owns 468,324 shares of the company’s stock worth $23,332,000 after buying an additional 2,859 shares during the period. Finally, Truist Financial Corp increased its stake in shares of First Trust Managed Municipal ETF by 12.9% in the 3rd quarter. Truist Financial Corp now owns 419,359 shares of the company’s stock worth $21,262,000 after acquiring an additional 47,919 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of FMB opened at $51.60 on Monday. First Trust Managed Municipal ETF has a fifty-two week low of $48.19 and a fifty-two week high of $51.65. The firm’s 50-day simple moving average is $51.23 and its two-hundred day simple moving average is $50.80.

First Trust Managed Municipal ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 21st were given a dividend of $0.154 per share. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a c) dividend on an annualized basis and a yield of 3.6%.

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.