First Trust Managed Municipal ETF (NASDAQ:FMB) Hits New 12-Month High at $52.07

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) hit a new 52-week high during trading on Monday . The stock traded as high as $52.07 and last traded at $52.04, with a volume of 17033 shares. The stock had previously closed at $52.01.

First Trust Managed Municipal ETF Trading Down 0.1 %

The firm’s fifty day simple moving average is $51.61 and its 200 day simple moving average is $51.30.

First Trust Managed Municipal ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were paid a dividend of $0.138 per share. The ex-dividend date was Wednesday, August 21st. This is a positive change from First Trust Managed Municipal ETF’s previous dividend of $0.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FMB. DHJJ Financial Advisors Ltd. lifted its stake in shares of First Trust Managed Municipal ETF by 119.4% in the 2nd 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 last quarter. Fifth Third Bancorp bought a new stake in First Trust Managed Municipal ETF in the second quarter worth $51,000. Jones Financial Companies Lllp purchased a new position in First Trust Managed Municipal ETF during the fourth quarter worth $52,000. IAG Wealth Partners LLC purchased a new position in First Trust Managed Municipal ETF during the second quarter worth $53,000. Finally, WR Wealth Planners LLC bought a new position in First Trust Managed Municipal ETF during the second quarter valued at $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.