Sequoia Financial Advisors LLC Sells 26,454 Shares of First Trust Managed Municipal ETF $FMB

Sequoia Financial Advisors LLC decreased its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 227,364 shares of the company’s stock after selling 26,454 shares during the period. Sequoia Financial Advisors LLC owned 0.61% of First Trust Managed Municipal ETF worth $11,327,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in FMB. GAMMA Investing LLC raised its position in First Trust Managed Municipal ETF by 4,941.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $79,000 after acquiring an additional 1,532 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in First Trust Managed Municipal ETF by 7.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,163 shares of the company’s stock worth $1,218,000 after acquiring an additional 1,772 shares during the period. Dynamic Advisor Solutions LLC raised its position in First Trust Managed Municipal ETF by 148.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 24,929 shares of the company’s stock worth $1,257,000 after acquiring an additional 14,902 shares during the period. Hanson & Doremus Investment Management bought a new stake in First Trust Managed Municipal ETF in the first quarter worth about $113,000. Finally, Janney Montgomery Scott LLC raised its position in First Trust Managed Municipal ETF by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 322,047 shares of the company’s stock worth $16,238,000 after acquiring an additional 13,698 shares during the period.

First Trust Managed Municipal ETF Stock Up 0.2%

Shares of FMB stock opened at $51.06 on Tuesday. First Trust Managed Municipal ETF has a 52 week low of $48.10 and a 52 week high of $51.99. The firm’s 50-day simple moving average is $50.30 and its two-hundred day simple moving average is $49.92.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were given a $0.146 dividend. This represents a c) annualized dividend and a dividend yield of 3.4%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 25th.

First Trust Managed Municipal ETF Company Profile

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.