First Trust Managed Municipal ETF (NASDAQ:FMB) Plans Monthly Dividend of $0.16

First Trust Managed Municipal ETF (NASDAQ:FMB) announced a monthly dividend on Wednesday, June 24th, NASDAQ Dividends reports. Investors of record on Thursday, June 25th will be paid a dividend of 0.157 per share on Tuesday, June 30th. 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 0.6% increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

First Trust Managed Municipal ETF Stock Performance

FMB traded down $0.16 during trading on Thursday, reaching $51.30. 145,038 shares of the company were exchanged, compared to its average volume of 148,959. First Trust Managed Municipal ETF has a 12-month low of $49.28 and a 12-month high of $52.03. The company’s 50-day moving average is $51.14 and its two-hundred day moving average is $51.24.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of institutional investors and hedge funds have recently modified their holdings of FMB. TrueWealth Financial Partners purchased a new position in First Trust Managed Municipal ETF during the fourth quarter valued at approximately $12,720,000. Bank of America Corp DE boosted its holdings in First Trust Managed Municipal ETF by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock valued at $103,691,000 after purchasing an additional 221,955 shares during the period. Jane Street Group LLC grew its position in shares of First Trust Managed Municipal ETF by 2,668.1% during the 1st 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 in the last quarter. LPL Financial LLC grew its position in shares of First Trust Managed Municipal ETF by 8.5% during the 4th quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after purchasing an additional 181,458 shares in the last quarter. Finally, Composition Wealth LLC increased its holdings in shares of First Trust Managed Municipal ETF by 8.7% in 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.

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.