Royal Bank of Canada Sells 16,871 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Royal Bank of Canada cut its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 611,043 shares of the company’s stock after selling 16,871 shares during the period. Royal Bank of Canada owned approximately 1.54% of First Trust Managed Municipal ETF worth $31,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Private Trust Co. NA grew its stake in shares of First Trust Managed Municipal ETF by 1.0% in the 4th quarter. Private Trust Co. NA now owns 20,210 shares of the company’s stock valued at $1,031,000 after buying an additional 200 shares during the period. Valmark Advisers Inc. grew its stake in shares of First Trust Managed Municipal ETF by 3.2% in the 4th quarter. Valmark Advisers Inc. now owns 8,386 shares of the company’s stock valued at $428,000 after buying an additional 257 shares during the period. WealthCare Investment Partners LLC grew its stake in shares of First Trust Managed Municipal ETF by 0.6% in the 4th quarter. WealthCare Investment Partners LLC now owns 48,816 shares of the company’s stock valued at $2,495,000 after buying an additional 274 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of First Trust Managed Municipal ETF by 3.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,640 shares of the company’s stock valued at $492,000 after buying an additional 341 shares during the period. Finally, Walkner Condon Financial Advisors LLC grew its stake in shares of First Trust Managed Municipal ETF by 3.5% in the 4th quarter. Walkner Condon Financial Advisors LLC now owns 10,064 shares of the company’s stock valued at $513,000 after buying an additional 343 shares during the period.

First Trust Managed Municipal ETF Stock Performance

Shares of FMB opened at $49.52 on Friday. The stock has a 50-day moving average of $49.91 and a 200-day moving average of $50.75. First Trust Managed Municipal ETF has a one year low of $48.10 and a one year high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st will be paid a $0.142 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. This represents a $1.70 annualized dividend and a dividend yield of 3.44%.

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.