First Trust Managed Municipal ETF (NASDAQ:FMB) Reaches New 12-Month High – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB) reached a new 52-week high on Tuesday . The stock traded as high as $51.67 and last traded at $51.67, with a volume of 71102 shares. The stock had previously closed at $51.60.

First Trust Managed Municipal ETF Stock Up 0.1%

The firm has a fifty day moving average price of $51.25 and a 200 day moving average price of $50.82.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st were issued a dividend of $0.154 per share. The ex-dividend date was Wednesday, January 21st. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a dividend yield of 3.6%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millington Financial Advisors LLC acquired a new position in First Trust Managed Municipal ETF during the 4th quarter worth about $215,000. Integrity Advisory Solutions LLC lifted its position in shares of First Trust Managed Municipal ETF by 6.7% during the fourth quarter. Integrity Advisory Solutions LLC now owns 7,875 shares of the company’s stock worth $403,000 after purchasing an additional 497 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of First Trust Managed Municipal ETF during the fourth quarter valued at approximately $274,000. CFO4Life Group LLC grew its stake in shares of First Trust Managed Municipal ETF by 12.1% during the fourth quarter. CFO4Life Group LLC now owns 4,884 shares of the company’s stock valued at $250,000 after purchasing an additional 529 shares during the last quarter. Finally, Motco increased its holdings in shares of First Trust Managed Municipal ETF by 1.9% in the fourth quarter. Motco now owns 185,177 shares of the company’s stock valued at $9,469,000 after purchasing an additional 3,385 shares in the last quarter.

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.