First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Time to Buy?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-strong trading volume on Monday . Approximately 316,012 shares traded hands during trading, an increase of 99% from the previous session’s volume of 158,907 shares.The stock last traded at $50.55 and had previously closed at $50.48.

First Trust Managed Municipal ETF Price Performance

The stock has a 50 day simple moving average of $51.45 and a 200 day simple moving average of $51.22.

First Trust Managed Municipal ETF Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 26th will be paid a $0.155 dividend. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, March 26th.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new stake in First Trust Managed Municipal ETF during the 2nd quarter valued at $27,000. Total Investment Management Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the second quarter valued at about $27,000. Ameriflex Group Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the third quarter valued at about $40,000. Hazlett Burt & Watson Inc. bought a new position in shares of First Trust Managed Municipal ETF during the third quarter valued at about $45,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of First Trust Managed Municipal ETF during the third quarter valued at about $51,000.

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.