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

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Tuesday . 229,038 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 157,190 shares.The stock last traded at $49.1190 and had previously closed at $49.13.

First Trust Managed Municipal ETF Trading Down 0.1%

The firm has a 50-day moving average price of $50.27 and a two-hundred day moving average price of $50.85.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were issued a $0.158 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 21st. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of institutional investors have recently made changes to their positions in the company. Continuum Advisory LLC acquired a new stake in First Trust Managed Municipal ETF during the second quarter worth approximately $29,000. Frazier Financial Advisors LLC bought a new position in shares of First Trust Managed Municipal ETF in the first quarter worth about $31,000. Ascentis Independent Advisors bought a new position in First Trust Managed Municipal ETF in the 1st quarter valued at approximately $53,000. Tucker Asset Management LLC acquired a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter valued at $54,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 38.9% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock valued at $64,000 after purchasing an additional 350 shares in the last quarter.

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.