First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – What’s Next?

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw an uptick in trading volume on Monday. 607,680 shares were traded during trading, an increase of 236% from the previous session’s volume of 180,738 shares. The stock last traded at $47.6450 and had previously closed at $48.09.

First Trust Managed Municipal ETF Stock Down 0.3%

The firm’s 50 day moving average is $49.80 and its 200-day moving average is $50.65.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be given a dividend of $0.1590 per share. The ex-dividend date of this dividend is Thursday, September 24th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 annualized dividend and a yield of 4.0%.

Institutional Trading of First Trust Managed Municipal ETF

A number of institutional investors and hedge funds have recently made changes to their positions in FMB. Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 19.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 41,658 shares of the company’s stock worth $2,140,000 after acquiring an additional 6,705 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of First Trust Managed Municipal ETF by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock valued at $17,732,000 after acquiring an additional 21,260 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in First Trust Managed Municipal ETF by 124.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after purchasing an additional 25,824 shares during the last quarter. RFG Advisory LLC lifted its holdings in First Trust Managed Municipal ETF by 31.4% in the 2nd quarter. RFG Advisory LLC now owns 41,784 shares of the company’s stock worth $2,146,000 after purchasing an additional 9,987 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in First Trust Managed Municipal ETF by 16.1% in the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock worth $25,565,000 after purchasing an additional 68,875 shares during the last quarter.

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.