First Trust Managed Municipal ETF $FMB Stake Lowered by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 31.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,108 shares of the company’s stock after selling 33,526 shares during the quarter. HighTower Advisors LLC’s holdings in First Trust Managed Municipal ETF were worth $3,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Uniting Wealth Partners LLC acquired a new stake in First Trust Managed Municipal ETF in the third quarter worth $2,733,000. Ameritas Advisory Services LLC increased its holdings in shares of First Trust Managed Municipal ETF by 64.8% in the 3rd quarter. Ameritas Advisory Services LLC now owns 18,808 shares of the company’s stock worth $954,000 after acquiring an additional 7,396 shares during the period. RFG Advisory LLC lifted its position in First Trust Managed Municipal ETF by 21.1% in the 3rd quarter. RFG Advisory LLC now owns 20,007 shares of the company’s stock valued at $1,014,000 after purchasing an additional 3,483 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in First Trust Managed Municipal ETF during the 3rd quarter valued at about $2,405,000. Finally, Forum Private Client Group LLC grew its position in First Trust Managed Municipal ETF by 89.1% in the 3rd quarter. Forum Private Client Group LLC now owns 12,115 shares of the company’s stock worth $614,000 after purchasing an additional 5,707 shares during the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of NASDAQ:FMB opened at $51.91 on Thursday. The firm’s 50 day moving average is $51.44 and its two-hundred day moving average is $51.00. First Trust Managed Municipal ETF has a 52 week low of $48.19 and a 52 week high of $51.93.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.155 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 3.6%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15.

First Trust Managed Municipal ETF 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.