Financial Advocates Investment Management Sells 15,480 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Financial Advocates Investment Management cut its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,584 shares of the company’s stock after selling 15,480 shares during the period. Financial Advocates Investment Management owned about 0.24% of First Trust Managed Municipal ETF worth $4,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FMB. PFS Partners LLC increased its position in First Trust Managed Municipal ETF by 2.1% during the third quarter. PFS Partners LLC now owns 10,209 shares of the company’s stock valued at $530,000 after acquiring an additional 214 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of First Trust Managed Municipal ETF by 0.5% in the 3rd quarter. Westside Investment Management Inc. now owns 63,442 shares of the company’s stock worth $3,294,000 after purchasing an additional 343 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 5.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 7,838 shares of the company’s stock worth $400,000 after buying an additional 386 shares during the last quarter. Main Line Retirement Advisors LLC grew its position in First Trust Managed Municipal ETF by 0.8% during the third quarter. Main Line Retirement Advisors LLC now owns 64,206 shares of the company’s stock valued at $3,336,000 after buying an additional 527 shares during the period. Finally, Weitzel Financial Services Inc. increased its holdings in First Trust Managed Municipal ETF by 1.2% during the third quarter. Weitzel Financial Services Inc. now owns 48,183 shares of the company’s stock valued at $2,509,000 after buying an additional 569 shares during the last quarter.

First Trust Managed Municipal ETF Trading Up 0.3 %

Shares of First Trust Managed Municipal ETF stock opened at $51.32 on Thursday. First Trust Managed Municipal ETF has a 1-year low of $48.10 and a 1-year high of $52.13. The company’s fifty day simple moving average is $51.15 and its 200-day simple moving average is $51.44.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 22nd. This is an increase from First Trust Managed Municipal ETF’s previous dividend of $0.14.

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.