Frisch Financial Group Inc. Sells 76,247 Shares of First Trust Managed Municipal ETF $FMB

Frisch Financial Group Inc. reduced its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 25.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 220,140 shares of the company’s stock after selling 76,247 shares during the period. First Trust Managed Municipal ETF makes up approximately 2.3% of Frisch Financial Group Inc.’s holdings, making the stock its 12th largest holding. Frisch Financial Group Inc.’s holdings in First Trust Managed Municipal ETF were worth $11,152,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new position in shares of First Trust Managed Municipal ETF during the 1st quarter valued at $31,000. PNC Financial Services Group Inc. purchased a new stake in First Trust Managed Municipal ETF in the 3rd quarter worth about $51,000. Ascentis Independent Advisors purchased a new stake in First Trust Managed Municipal ETF in the 1st quarter worth about $53,000. Tucker Asset Management LLC bought a new stake in First Trust Managed Municipal ETF in the 4th quarter valued at about $54,000. Finally, Hazlett Burt & Watson Inc. raised its stake in First Trust Managed Municipal ETF by 38.9% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock valued at $64,000 after acquiring an additional 350 shares during the period.

First Trust Managed Municipal ETF Stock Down 0.1%

NASDAQ FMB opened at $51.06 on Friday. First Trust Managed Municipal ETF has a 52 week low of $49.28 and a 52 week high of $52.03. The firm’s 50-day simple moving average is $51.17 and its two-hundred day simple moving average is $51.27.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.157 dividend. This represents a c) annualized dividend and a dividend yield of 3.7%. 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 Thursday, June 25th.

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.