First Trust Managed Municipal ETF (NASDAQ:FMB) Hits New 12-Month High – Still a Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.31 and last traded at $52.31, with a volume of 9001 shares traded. The stock had previously closed at $51.29.

First Trust Managed Municipal ETF Stock Performance

The business has a 50 day moving average of $51.11 and a 200-day moving average of $51.23.

First Trust Managed Municipal ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were paid a dividend of $0.156 per share. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, May 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Frazier Financial Advisors LLC purchased a new position in First Trust Managed Municipal ETF during the 1st quarter worth $31,000. Ameriflex Group Inc. purchased a new position in First Trust Managed Municipal ETF during the 3rd quarter worth $40,000. PNC Financial Services Group Inc. purchased a new position in First Trust Managed Municipal ETF during the 3rd quarter worth $51,000. Ascentis Independent Advisors purchased a new position in First Trust Managed Municipal ETF during the 1st quarter worth $53,000. Finally, Tucker Asset Management LLC purchased a new position in First Trust Managed Municipal ETF during the 4th quarter worth $54,000.

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.