First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Unusually-High Trading Volume Following Dividend Announcement

First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. Approximately 299,146 shares traded hands during trading, an increase of 36% from the previous session’s volume of 220,293 shares. The stock last traded at $48.5650 and had previously closed at $48.63.

The newly announced dividend which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st will be paid a dividend of $0.1590 per share. This represents a $1.91 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 21st.

First Trust Managed Municipal ETF Stock Performance

The business’s 50 day simple moving average is $49.13 and its 200-day simple moving average is $50.36.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kintra Wealth LLC increased its position in First Trust Managed Municipal ETF by 1.2% in the 2nd quarter. Kintra Wealth LLC now owns 18,958 shares of the company’s stock valued at $962,000 after acquiring an additional 216 shares during the period. Waverly Advisors LLC raised its stake in First Trust Managed Municipal ETF by 0.4% during the 2nd quarter. Waverly Advisors LLC now owns 63,752 shares of the company’s stock valued at $3,275,000 after acquiring an additional 233 shares in the last quarter. World Investment Advisors boosted its position in First Trust Managed Municipal ETF by 3.7% during the 1st quarter. World Investment Advisors now owns 8,410 shares of the company’s stock worth $426,000 after acquiring an additional 302 shares during the period. Heck Capital Advisors LLC boosted its position in First Trust Managed Municipal ETF by 0.8% during the 2nd quarter. Heck Capital Advisors LLC now owns 42,983 shares of the company’s stock worth $2,208,000 after acquiring an additional 320 shares during the period. Finally, Triumph Capital Management increased its holdings in shares of First Trust Managed Municipal ETF by 4.4% during the third quarter. Triumph Capital Management now owns 11,844 shares of the company’s stock valued at $567,000 after purchasing an additional 500 shares during the period.

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.