First Trust Managed Municipal ETF (NASDAQ:FMB) Hits New 12-Month Low – What’s Next?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $48.82 and last traded at $48.7910, with a volume of 28083 shares changing hands. The stock had previously closed at $48.97.

First Trust Managed Municipal ETF Stock Performance

The company has a 50 day moving average of $50.10 and a 200-day moving average of $50.77.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a $0.158 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 21st. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. True Blue Financial LLC increased its position in First Trust Managed Municipal ETF by 8.7% in the 1st quarter. True Blue Financial LLC now owns 269,428 shares of the company’s stock valued at $13,649,000 after acquiring an additional 21,459 shares during the period. Integrated Wealth Concepts LLC boosted its position in First Trust Managed Municipal ETF by 124.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after acquiring an additional 25,824 shares during the period. Hilton Head Capital Partners LLC acquired a new position in First Trust Managed Municipal ETF during the 4th quarter worth $675,000. Blackhawk Capital Partners LLC grew its stake in shares of First Trust Managed Municipal ETF by 53.1% in the first quarter. Blackhawk Capital Partners LLC now owns 114,133 shares of the company’s stock worth $5,782,000 after purchasing an additional 39,581 shares in the last quarter. Finally, Waverly Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 35.0% during the first quarter. Waverly Advisors LLC now owns 63,519 shares of the company’s stock valued at $3,218,000 after purchasing an additional 16,467 shares during the period.

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.