First Trust Managed Municipal ETF (NASDAQ:FMB) Reaches New 1-Year Low – Here’s Why

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) reached a new 52-week low during trading on Wednesday . The company traded as low as $48.82 and last traded at $48.7910, with a volume of 28083 shares traded. The stock had previously closed at $48.97.

First Trust Managed Municipal ETF Stock Down 0.5%

The firm’s fifty day moving average price is $50.10 and its 200-day moving average price is $50.77.

First Trust Managed Municipal ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a dividend of $0.158 per share. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, August 21st. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Trading of First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake in shares of First Trust Managed Municipal ETF by 124.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after acquiring an additional 25,824 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of First Trust Managed Municipal ETF by 31.4% in the 2nd quarter. RFG Advisory LLC now owns 41,784 shares of the company’s stock worth $2,146,000 after acquiring an additional 9,987 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 16.1% during the second quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock worth $25,565,000 after purchasing an additional 68,875 shares during the period. Allworth Financial LP raised its position in shares of First Trust Managed Municipal ETF by 7.5% during the second quarter. Allworth Financial LP now owns 95,493 shares of the company’s stock worth $4,905,000 after purchasing an additional 6,699 shares during the period. Finally, Waverly Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 0.4% during the second quarter. Waverly Advisors LLC now owns 63,752 shares of the company’s stock worth $3,275,000 after purchasing an additional 233 shares during the period.

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.