BCGM Wealth Management LLC Has $6.99 Million Position in First Trust Managed Municipal ETF $FMB

BCGM Wealth Management LLC grew its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 13.4% during the 1st quarter, HoldingsChannel reports. The fund owned 138,020 shares of the company’s stock after acquiring an additional 16,267 shares during the period. First Trust Managed Municipal ETF accounts for 1.8% of BCGM Wealth Management LLC’s holdings, making the stock its 12th biggest position. BCGM Wealth Management LLC’s holdings in First Trust Managed Municipal ETF were worth $6,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FMB. PNC Financial Services Group Inc. purchased a new stake in shares of First Trust Managed Municipal ETF during the third quarter worth $51,000. Ascentis Independent Advisors acquired a new position in First Trust Managed Municipal ETF in the 1st quarter worth about $53,000. Tucker Asset Management LLC acquired a new position in First Trust Managed Municipal ETF in the 4th quarter worth about $54,000. Hazlett Burt & Watson Inc. raised its stake in shares of First Trust Managed Municipal ETF by 38.9% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock worth $64,000 after purchasing an additional 350 shares in the last quarter. Finally, Basepoint Wealth LLC purchased a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter worth about $105,000.

First Trust Managed Municipal ETF Trading Down 0.1%

Shares of First Trust Managed Municipal ETF stock opened at $51.06 on Friday. First Trust Managed Municipal ETF has a 52-week low of $49.28 and a 52-week high of $52.03. The stock has a 50-day simple moving average of $51.17 and a 200-day simple moving average of $51.27.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.157 per share. The ex-dividend date of this dividend was Thursday, June 25th. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. This represents a c) annualized dividend and a yield of 3.7%.

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.