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

First Trust Managed Municipal ETF (NASDAQ:FMB) shares hit a new 52-week high on Tuesday . The stock traded as high as $51.88 and last traded at $51.8850, with a volume of 47124 shares changing hands. The stock had previously closed at $51.83.

First Trust Managed Municipal ETF Price Performance

The business’s 50-day moving average price is $51.37 and its 200 day moving average price is $50.93.

First Trust Managed Municipal ETF Increases Dividend

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

Institutional Trading of First Trust Managed Municipal ETF

A number of large investors have recently modified their holdings of the business. Miracle Mile Advisors LLC increased its stake in First Trust Managed Municipal ETF by 50.3% in the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock valued at $54,256,000 after acquiring an additional 358,121 shares during the last quarter. TrueWealth Financial Partners purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth about $12,720,000. Jane Street Group LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 2,668.1% in the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after purchasing an additional 182,683 shares in the last quarter. LPL Financial LLC increased its position in shares of First Trust Managed Municipal ETF by 8.5% during the 4th quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after purchasing an additional 181,458 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of First Trust Managed Municipal ETF by 928.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 126,062 shares of the company’s stock valued at $6,391,000 after buying an additional 113,809 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.