ABLE Financial Group LLC Acquires 13,712 Shares of First Trust Managed Municipal ETF $FMB

ABLE Financial Group LLC grew its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 21.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,541 shares of the company’s stock after purchasing an additional 13,712 shares during the quarter. ABLE Financial Group LLC owned 0.20% of First Trust Managed Municipal ETF worth $3,759,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FMB. Continuum Advisory LLC purchased a new position in shares of First Trust Managed Municipal ETF in the second quarter valued at $29,000. Frazier Financial Advisors LLC purchased a new stake in First Trust Managed Municipal ETF during the 1st quarter worth $31,000. Ascentis Independent Advisors purchased a new stake in First Trust Managed Municipal ETF during the 1st quarter worth $53,000. Legacy Wealth Managment LLC ID increased its stake in First Trust Managed Municipal ETF by 339.0% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,374 shares of the company’s stock worth $70,000 after buying an additional 1,061 shares during the period. Finally, IMG Wealth Management Inc. lifted its holdings in First Trust Managed Municipal ETF by 96.2% in the 1st quarter. IMG Wealth Management Inc. now owns 2,531 shares of the company’s stock worth $128,000 after buying an additional 1,241 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

NASDAQ:FMB traded down $0.10 on Wednesday, reaching $48.23. The stock had a trading volume of 215,674 shares, compared to its average volume of 210,311. The company has a 50-day moving average of $49.33 and a 200 day moving average of $50.43. First Trust Managed Municipal ETF has a 12-month low of $47.38 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.1590 per share. The ex-dividend date of this dividend was 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 dividend on an annualized basis and a dividend yield of 4.0%.

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.