First Trust Managed Municipal ETF $FMB Holdings Cut by Verus Capital Partners LLC

Verus Capital Partners LLC lowered its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 77.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,874 shares of the company’s stock after selling 100,544 shares during the period. Verus Capital Partners LLC’s holdings in First Trust Managed Municipal ETF were worth $1,515,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Miracle Mile Advisors LLC raised its holdings in shares of First Trust Managed Municipal ETF by 50.3% during the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock worth $54,256,000 after acquiring an additional 358,121 shares in the last quarter. Jane Street Group LLC increased its position in First Trust Managed Municipal ETF by 2,668.1% in the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after purchasing an additional 182,683 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of First Trust Managed Municipal ETF by 928.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 126,062 shares of the company’s stock worth $6,391,000 after purchasing an additional 113,809 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of First Trust Managed Municipal ETF by 35.6% during the 3rd quarter. Frisch Financial Group Inc. now owns 288,013 shares of the company’s stock valued at $14,603,000 after buying an additional 75,648 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in First Trust Managed Municipal ETF by 37.0% in the second quarter. Rockefeller Capital Management L.P. now owns 255,039 shares of the company’s stock worth $12,706,000 after buying an additional 68,909 shares during the last quarter.

First Trust Managed Municipal ETF Stock Down 0.2%

Shares of FMB opened at $51.76 on Monday. The firm’s 50 day moving average price is $51.38 and its 200 day moving average price is $50.96. First Trust Managed Municipal ETF has a twelve month low of $48.19 and a twelve month high of $51.90.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15.

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.