First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Should You Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw an uptick in trading volume on Thursday. Approximately 870,391 shares were traded during trading, an increase of 334% from the previous session’s volume of 200,326 shares. The stock last traded at $47.77 and had previously closed at $47.70.

First Trust Managed Municipal ETF Trading Up 0.3%

The firm’s fifty day moving average is $49.51 and its 200-day moving average is $50.51.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.1590 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. The ex-dividend date was Thursday, September 24th.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of First Trust Managed Municipal ETF by 12.2% during the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after purchasing an additional 221,955 shares in 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. Janney Montgomery Scott LLC raised its position in shares of First Trust Managed Municipal ETF by 11.3% during the first quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock worth $23,727,000 after purchasing an additional 47,710 shares during the period. Cetera Investment Advisers lifted its holdings in shares of First Trust Managed Municipal ETF by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock valued at $21,181,000 after purchasing an additional 8,583 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of First Trust Managed Municipal ETF by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock valued at $17,732,000 after purchasing an additional 21,260 shares during the period.

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.