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

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-high trading volume on Monday. 607,680 shares traded hands during trading, an increase of 236% from the previous session’s volume of 180,738 shares. The stock last traded at $47.6450 and had previously closed at $48.09.

First Trust Managed Municipal ETF Price Performance

The stock’s 50-day moving average price is $49.93 and its 200-day moving average price is $50.70.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be paid a dividend of $0.1590 per share. This represents a $1.91 annualized dividend and a yield of 4.0%. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. The ex-dividend date is Thursday, September 24th.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of FMB. Continuum Advisory LLC acquired a new position in First Trust Managed Municipal ETF in the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC acquired a new stake in shares of First Trust Managed Municipal ETF during the 1st quarter worth approximately $31,000. Ascentis Independent Advisors bought a new stake in shares of First Trust Managed Municipal ETF in the 1st quarter worth approximately $53,000. Hazlett Burt & Watson Inc. boosted its position in First Trust Managed Municipal ETF by 38.9% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock valued at $64,000 after purchasing an additional 350 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted its position in First Trust Managed Municipal ETF by 339.0% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,374 shares of the company’s stock valued at $70,000 after purchasing an additional 1,061 shares during the period.

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.