Janney Montgomery Scott LLC Grows Stock Position in First Trust Managed Municipal ETF $FMB

Janney Montgomery Scott LLC raised its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,362 shares of the company’s stock after buying an additional 47,710 shares during the quarter. Janney Montgomery Scott LLC owned about 1.20% of First Trust Managed Municipal ETF worth $23,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. TrueWealth Financial Partners purchased a new stake in First Trust Managed Municipal ETF in the 4th quarter worth about $12,720,000. Jane Street Group LLC lifted its holdings in First Trust Managed Municipal ETF by 2,668.1% during the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after purchasing an additional 182,683 shares during the last quarter. LPL Financial LLC boosted 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 worth $118,046,000 after purchasing an additional 181,458 shares during the period. Composition Wealth LLC boosted its position in 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 purchasing an additional 92,945 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of First Trust Managed Municipal ETF by 20.9% in the fourth quarter. NewEdge Advisors LLC now owns 405,841 shares of the company’s stock worth $20,753,000 after purchasing an additional 70,160 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

NASDAQ FMB opened at $51.40 on Tuesday. The company’s 50 day moving average is $51.15 and its 200-day moving average is $51.25. First Trust Managed Municipal ETF has a 12-month low of $49.28 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th will be issued a dividend of $0.157 per share. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

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.