Private Advisor Group LLC Decreases Stock Holdings in First Trust Managed Municipal ETF $FMB

Private Advisor Group LLC lowered its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 16.9% during the third quarter, Holdings Channel.com reports. The firm owned 107,909 shares of the company’s stock after selling 21,962 shares during the quarter. Private Advisor Group LLC’s holdings in First Trust Managed Municipal ETF were worth $5,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its position in shares of First Trust Managed Municipal ETF by 7.8% during the third quarter. Pinnacle Bancorp Inc. now owns 2,752 shares of the company’s stock valued at $140,000 after buying an additional 200 shares during the last quarter. Financial Strategies Group Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 1.2% in the 3rd quarter. Financial Strategies Group Inc. now owns 17,855 shares of the company’s stock valued at $914,000 after buying an additional 220 shares in the last quarter. First Trust Advisors LP grew its position in shares of First Trust Managed Municipal ETF by 1.7% in the 3rd quarter. First Trust Advisors LP now owns 13,099 shares of the company’s stock worth $664,000 after buying an additional 220 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of First Trust Managed Municipal ETF by 3.0% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 9,207 shares of the company’s stock worth $467,000 after buying an additional 264 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of First Trust Managed Municipal ETF by 0.9% during the 2nd quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock worth $1,544,000 after acquiring an additional 266 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB opened at $51.21 on Friday. First Trust Managed Municipal ETF has a 52 week low of $48.19 and a 52 week high of $52.03. The firm has a 50 day moving average of $51.55 and a 200 day moving average of $51.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, February 20th. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend 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.