RFG Advisory LLC Sells 2,363 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

RFG Advisory LLC reduced its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 192,325 shares of the company’s stock after selling 2,363 shares during the quarter. RFG Advisory LLC owned about 0.50% of First Trust Managed Municipal ETF worth $9,878,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FMB. LPL Financial LLC increased its holdings in shares of First Trust Managed Municipal ETF by 13.6% during the third quarter. LPL Financial LLC now owns 2,311,853 shares of the company’s stock valued at $113,003,000 after acquiring an additional 277,430 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of First Trust Managed Municipal ETF by 14.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,042,465 shares of the company’s stock valued at $105,523,000 after acquiring an additional 251,160 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 63.2% during the fourth quarter. Miracle Mile Advisors LLC now owns 444,237 shares of the company’s stock valued at $22,951,000 after acquiring an additional 171,963 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of First Trust Managed Municipal ETF by 20.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 903,423 shares of the company’s stock valued at $46,675,000 after buying an additional 156,465 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of First Trust Managed Municipal ETF during the fourth quarter valued at approximately $7,348,000.

First Trust Managed Municipal ETF Stock Down 0.1 %

Shares of NASDAQ:FMB traded down $0.04 during mid-day trading on Friday, hitting $51.30. 161,789 shares of the company traded hands, compared to its average volume of 156,940. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $51.77. The stock has a 50-day moving average price of $50.99 and a two-hundred day moving average price of $51.25.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd were given a $0.135 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.62 annualized dividend and a yield of 3.16%.

First Trust Managed Municipal ETF Profile

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.