Cornerstone Financial Management LLC Takes $3.82 Million Position in First Trust Low Duration Opportunities ETF $LMBS

Cornerstone Financial Management LLC acquired a new stake in shares of First Trust Low Duration Opportunities ETF (NASDAQ:LMBS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 76,355 shares of the company’s stock, valued at approximately $3,817,000. First Trust Low Duration Opportunities ETF comprises approximately 3.6% of Cornerstone Financial Management LLC’s holdings, making the stock its 7th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMBS. HighTower Advisors LLC increased its holdings in shares of First Trust Low Duration Opportunities ETF by 95.3% during the fourth quarter. HighTower Advisors LLC now owns 1,454,146 shares of the company’s stock valued at $72,693,000 after acquiring an additional 709,693 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of First Trust Low Duration Opportunities ETF during the fourth quarter valued at approximately $33,401,000. Elevation Point Wealth Partners LLC bought a new stake in shares of First Trust Low Duration Opportunities ETF during the third quarter valued at approximately $22,376,000. Axxcess Wealth Management LLC increased its holdings in shares of First Trust Low Duration Opportunities ETF by 1,602.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 415,932 shares of the company’s stock valued at $20,792,000 after acquiring an additional 391,503 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of First Trust Low Duration Opportunities ETF by 46.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 1,207,824 shares of the company’s stock valued at $60,379,000 after acquiring an additional 382,941 shares in the last quarter.

First Trust Low Duration Opportunities ETF Stock Performance

NASDAQ LMBS opened at $49.84 on Friday. First Trust Low Duration Opportunities ETF has a 52 week low of $47.87 and a 52 week high of $51.98. The business has a 50 day moving average price of $49.88 and a 200-day moving average price of $50.02.

First Trust Low Duration Opportunities ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 4.1%.

First Trust Low Duration Opportunities ETF Profile

The First Trust Low Duration Opportunities ETF (LMBS) is an exchange-traded fund that is based on the Bloomberg U.S. MBS index. The fund is an actively managed fund that invests in a variety of mortgage-backed securities with target duration of less than 3 years. LMBS was launched on Nov 4, 2014 and is managed by First Trust.