First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB) saw an uptick in trading volume on Thursday. Approximately 870,391 shares were traded during mid-day 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 has a fifty day simple moving average of $49.42 and a 200 day simple moving average of $50.47.

First Trust Managed Municipal ETF Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMB. Friday Financial increased its position in First Trust Managed Municipal ETF by 4.2% during the 3rd quarter. Friday Financial now owns 37,373 shares of the company’s stock valued at $1,800,000 after purchasing an additional 1,519 shares during the period. Insight Wealth Strategies LLC boosted its stake in shares of First Trust Managed Municipal ETF by 3.4% during the third quarter. Insight Wealth Strategies LLC now owns 28,905 shares of the company’s stock valued at $1,383,000 after purchasing an additional 963 shares in the last quarter. First Heartland Consultants Inc. purchased a new position in First Trust Managed Municipal ETF during the third quarter valued at approximately $8,478,000. Financial Enhancement Group LLC increased its holdings in First Trust Managed Municipal ETF by 14.7% during the third quarter. Financial Enhancement Group LLC now owns 10,095 shares of the company’s stock valued at $482,000 after buying an additional 1,297 shares during the period. Finally, CoreCap Advisors LLC raised its stake in First Trust Managed Municipal ETF by 11.9% in the third quarter. CoreCap Advisors LLC now owns 8,826 shares of the company’s stock worth $422,000 after buying an additional 940 shares in 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.