Miracle Mile Advisors LLC Purchases 19,690 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Miracle Mile Advisors LLC increased its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,521 shares of the company’s stock after purchasing an additional 19,690 shares during the quarter. Miracle Mile Advisors LLC owned 1.67% of First Trust Managed Municipal ETF worth $32,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of First Trust Managed Municipal ETF by 45.1% in the fourth quarter. US Bancorp DE now owns 10,861 shares of the company’s stock worth $554,000 after acquiring an additional 3,376 shares during the last quarter. Keybank National Association OH bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $554,000. Bank of New York Mellon Corp lifted its holdings in shares of First Trust Managed Municipal ETF by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 209,281 shares of the company’s stock worth $10,675,000 after acquiring an additional 5,574 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $1,199,000. Finally, Ameriprise Financial Inc. bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $289,000.

First Trust Managed Municipal ETF Price Performance

FMB stock opened at $49.50 on Friday. First Trust Managed Municipal ETF has a 12 month low of $48.10 and a 12 month high of $52.13. The firm has a 50-day moving average price of $49.71 and a 200-day moving average price of $50.62.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st were paid a $0.142 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.70 annualized dividend and a dividend yield of 3.44%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14.

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.