Friday Financial Purchases 16,555 Shares of First Trust Managed Municipal ETF $FMB

Friday Financial lifted its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 111.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,429 shares of the company’s stock after acquiring an additional 16,555 shares during the period. First Trust Managed Municipal ETF comprises 0.6% of Friday Financial’s investment portfolio, making the stock its 27th largest holding. Friday Financial’s holdings in First Trust Managed Municipal ETF were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCG Wealth Advisors LLC bought a new stake in First Trust Managed Municipal ETF during the second quarter worth about $563,000. CWM LLC increased its holdings in shares of First Trust Managed Municipal ETF by 19.1% during the third quarter. CWM LLC now owns 127,041 shares of the company’s stock worth $6,441,000 after buying an additional 20,364 shares in the last quarter. Seascape Capital Management raised its stake in shares of First Trust Managed Municipal ETF by 110.0% in the third quarter. Seascape Capital Management now owns 47,250 shares of the company’s stock valued at $2,396,000 after acquiring an additional 24,750 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of First Trust Managed Municipal ETF by 50.3% in the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock valued at $54,256,000 after acquiring an additional 358,121 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 13.9% in the 3rd quarter. Citigroup Inc. now owns 180,647 shares of the company’s stock worth $9,159,000 after acquiring an additional 21,979 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

NASDAQ FMB opened at $50.93 on Tuesday. The stock’s 50 day simple moving average is $51.52 and its 200 day simple moving average is $51.22. First Trust Managed Municipal ETF has a one year low of $48.19 and a one year high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.155 dividend. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, February 20th.

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.