First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Unusually-High Trading Volume Following Dividend Announcement

First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Wednesday after the company announced a dividend. Approximately 157,626 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 152,407 shares.The stock last traded at $52.00 and had previously closed at $52.04.

The newly announced dividend which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.139 per share. The ex-dividend date is Thursday, September 26th. This is an increase from First Trust Managed Municipal ETF’s previous dividend of $0.14.

First Trust Managed Municipal ETF Trading Up 0.1 %

The business’s 50 day moving average is $51.68 and its 200 day moving average is $51.32.

Institutional Trading of First Trust Managed Municipal ETF

A number of large investors have recently made changes to their positions in the stock. DHJJ Financial Advisors Ltd. boosted its holdings in shares of First Trust Managed Municipal ETF by 119.4% in the second quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock valued at $40,000 after purchasing an additional 430 shares during the period. Fifth Third Bancorp bought a new position in shares of First Trust Managed Municipal ETF during the 2nd quarter worth $51,000. Jones Financial Companies Lllp purchased a new position in shares of First Trust Managed Municipal ETF during the fourth quarter valued at $52,000. IAG Wealth Partners LLC purchased a new position in shares of First Trust Managed Municipal ETF during the second quarter valued at $53,000. Finally, WR Wealth Planners LLC bought a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $56,000.

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.