First Trust Managed Municipal ETF (NASDAQ:FMB) Sets New 52-Week Low – Time to Sell?

First Trust Managed Municipal ETF (NASDAQ:FMB)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $49.65 and last traded at $49.69, with a volume of 186931 shares changing hands. The stock had previously closed at $49.71.

First Trust Managed Municipal ETF Trading Down 0.1%

The company’s fifty day simple moving average is $50.68 and its 200 day simple moving average is $51.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a $0.158 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. The ex-dividend date of this dividend was Friday, August 21st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its stake in First Trust Managed Municipal ETF by 2,668.1% in 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 in the last quarter. Baird Financial Group Inc. grew its position 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 valued at $1,544,000 after purchasing an additional 266 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of First Trust Managed Municipal ETF in the second quarter worth $125,000. Main Street Financial Solutions LLC bought a new position in shares of First Trust Managed Municipal ETF in the second quarter worth $805,000. Finally, Raymond James Financial Inc. raised its position in shares of First Trust Managed Municipal ETF by 2.9% in the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after buying an additional 34,126 shares in 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.