First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Still a Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-strong trading volume on Wednesday . Approximately 944,871 shares traded hands during trading, an increase of 551% from the previous session’s volume of 145,055 shares.The stock last traded at $51.2950 and had previously closed at $51.24.

First Trust Managed Municipal ETF Price Performance

The stock has a 50 day moving average price of $51.16 and a two-hundred day moving average price of $50.54.

First Trust Managed Municipal ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $0.147 per share. The ex-dividend date was Friday, December 12th. This represents a c) dividend on an annualized basis and a yield of 3.4%.

Institutional Trading of First Trust Managed Municipal ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Total Investment Management Inc. acquired a new position in First Trust Managed Municipal ETF during the second quarter valued at approximately $27,000. Evolution Wealth Management Inc. bought a new position in First Trust Managed Municipal ETF during the 2nd quarter worth about $27,000. Ameriflex Group Inc. acquired a new stake in First Trust Managed Municipal ETF in the 3rd quarter valued at approximately $40,000. Hazlett Burt & Watson Inc. bought a new stake in shares of First Trust Managed Municipal ETF in the third quarter worth $45,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of First Trust Managed Municipal ETF during the 3rd quarter worth about $51,000.

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.