First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Here’s Why

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-strong trading volume on Tuesday . 229,038 shares traded hands during trading, an increase of 46% from the previous session’s volume of 157,190 shares.The stock last traded at $49.1190 and had previously closed at $49.13.

First Trust Managed Municipal ETF Stock Down 0.3%

The business’s fifty day moving average is $50.36 and its two-hundred day moving average is $50.89.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were paid a $0.158 dividend. 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. This represents a c) annualized dividend and a dividend yield of 3.9%.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several large investors have recently made changes to their positions in FMB. Bank of America Corp DE increased its position in First Trust Managed Municipal ETF by 12.2% in 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 during the period. NewEdge Advisors LLC lifted its position in First Trust Managed Municipal ETF by 16.1% during the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after purchasing an additional 68,875 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of First Trust Managed Municipal ETF by 11.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock valued at $23,727,000 after purchasing an additional 47,710 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of First Trust Managed Municipal ETF by 2.1% in 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 during the last quarter. Finally, Frisch Financial Group Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 2.9% in the 4th quarter. Frisch Financial Group Inc. now owns 296,387 shares of the company’s stock valued at $15,156,000 after purchasing an additional 8,374 shares during 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.