First Trust Managed Municipal ETF (NASDAQ:FMB) Reaches New 1-Year High – Time to Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $51.67 and last traded at $51.67, with a volume of 71102 shares. The stock had previously closed at $51.60.

First Trust Managed Municipal ETF Stock Up 0.1%

The stock has a fifty day simple moving average of $51.25 and a 200-day simple moving average of $50.82.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 21st were given a dividend of $0.154 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, January 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millington Financial Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at about $215,000. Integrity Advisory Solutions LLC lifted its position in shares of First Trust Managed Municipal ETF by 6.7% in the 4th quarter. Integrity Advisory Solutions LLC now owns 7,875 shares of the company’s stock worth $403,000 after acquiring an additional 497 shares during the period. Smithfield Trust Co acquired a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter worth approximately $274,000. CFO4Life Group LLC increased its position in shares of First Trust Managed Municipal ETF by 12.1% during the fourth quarter. CFO4Life Group LLC now owns 4,884 shares of the company’s stock valued at $250,000 after purchasing an additional 529 shares during the period. Finally, Motco raised its stake in shares of First Trust Managed Municipal ETF by 1.9% in the fourth quarter. Motco now owns 185,177 shares of the company’s stock valued at $9,469,000 after purchasing an additional 3,385 shares in 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.