First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-strong trading volume on Wednesday . Approximately 420,243 shares traded hands during mid-day trading, an increase of 106% from the previous session’s volume of 203,689 shares.The stock last traded at $50.81 and had previously closed at $50.61.

First Trust Managed Municipal ETF Stock Performance

The business’s 50 day simple moving average is $51.27 and its 200 day simple moving average is $51.48.

First Trust Managed Municipal ETF Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.139 dividend. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Trading of First Trust Managed Municipal ETF

A number of large investors have recently bought and sold shares of FMB. LPL Financial LLC boosted its stake in shares of First Trust Managed Municipal ETF by 6.9% in the 3rd quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock valued at $130,283,000 after purchasing an additional 162,331 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in First Trust Managed Municipal ETF by 5.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 629,831 shares of the company’s stock worth $32,128,000 after buying an additional 29,957 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of First Trust Managed Municipal ETF by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock worth $21,896,000 after buying an additional 25,002 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 5.0% during the third quarter. OneDigital Investment Advisors LLC now owns 419,165 shares of the company’s stock worth $21,780,000 after buying an additional 19,917 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of First Trust Managed Municipal ETF by 14.2% in the second quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock valued at $20,594,000 after acquiring an additional 50,146 shares during the last quarter.

First Trust Managed Municipal ETF Company 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.