First Trust Managed Municipal ETF $FMB Stock Position Lowered by Investment Planning Advisors Inc.

Investment Planning Advisors Inc. trimmed its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 91.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,831 shares of the company’s stock after selling 70,709 shares during the quarter. Investment Planning Advisors Inc.’s holdings in First Trust Managed Municipal ETF were worth $327,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Continuum Advisory LLC acquired a new position in First Trust Managed Municipal ETF in the 2nd quarter valued at about $29,000. Frazier Financial Advisors LLC purchased a new position in First Trust Managed Municipal ETF during the 1st quarter valued at about $31,000. Ascentis Independent Advisors acquired a new position in shares of First Trust Managed Municipal ETF in the first quarter valued at approximately $53,000. Legacy Wealth Managment LLC ID increased its position in shares of First Trust Managed Municipal ETF by 339.0% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,374 shares of the company’s stock worth $70,000 after acquiring an additional 1,061 shares during the period. Finally, IMG Wealth Management Inc. increased its holdings in First Trust Managed Municipal ETF by 96.2% during the 1st quarter. IMG Wealth Management Inc. now owns 2,531 shares of the company’s stock worth $128,000 after purchasing an additional 1,241 shares during the period.

First Trust Managed Municipal ETF Stock Down 0.2%

NASDAQ:FMB traded down $0.10 during mid-day trading on Wednesday, hitting $48.23. The stock had a trading volume of 222,920 shares, compared to its average volume of 210,361. The stock has a 50-day simple moving average of $49.33 and a two-hundred day simple moving average of $50.43. First Trust Managed Municipal ETF has a twelve month low of $47.38 and a twelve month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.1590 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.91 annualized dividend and a dividend yield of 4.0%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580.

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.