First Trust Managed Municipal ETF (NASDAQ:FMB) Hits New 52-Week Low – What’s Next?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $47.59 and last traded at $47.63, with a volume of 715819 shares traded. The stock had previously closed at $48.09.

First Trust Managed Municipal ETF Stock Up 0.7%

The company has a 50 day moving average price of $49.75 and a 200-day moving average price of $50.63.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a $0.1590 dividend. The ex-dividend date was Thursday, September 24th. This represents a $1.91 dividend on an annualized basis and a yield of 4.0%. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580.

Institutional Trading of First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 19.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 41,658 shares of the company’s stock valued at $2,140,000 after acquiring an additional 6,705 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in First Trust Managed Municipal ETF by 6.6% during the second quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after purchasing an additional 21,260 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in First Trust Managed Municipal ETF by 124.7% in the second quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after purchasing an additional 25,824 shares during the period. RFG Advisory LLC lifted its position in First Trust Managed Municipal ETF by 31.4% in the second quarter. RFG Advisory LLC now owns 41,784 shares of the company’s stock worth $2,146,000 after purchasing an additional 9,987 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in First Trust Managed Municipal ETF by 16.1% during the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after purchasing an additional 68,875 shares in the last quarter.

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.