Janney Montgomery Scott LLC Raises Stake in First Trust Managed Municipal ETF $FMB

Janney Montgomery Scott LLC boosted its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 11.3% in the 1st quarter, Holdings Channel reports. The firm owned 468,362 shares of the company’s stock after acquiring an additional 47,710 shares during the quarter. Janney Montgomery Scott LLC’s holdings in First Trust Managed Municipal ETF were worth $23,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FMB. Stonehaven Wealth & Tax Solutions LLC increased its position in shares of First Trust Managed Municipal ETF by 4.3% during the third quarter. Stonehaven Wealth & Tax Solutions LLC now owns 4,800 shares of the company’s stock valued at $243,000 after buying an additional 200 shares during the period. First Trust Advisors LP lifted its holdings in shares of First Trust Managed Municipal ETF by 1.7% in the third quarter. First Trust Advisors LP now owns 13,099 shares of the company’s stock worth $664,000 after buying an additional 220 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of First Trust Managed Municipal ETF by 0.9% in the second quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock valued at $1,544,000 after acquiring an additional 266 shares during the period. Forum Private Client Group LLC boosted its position in shares of First Trust Managed Municipal ETF by 2.2% in the fourth quarter. Forum Private Client Group LLC now owns 12,387 shares of the company’s stock valued at $633,000 after acquiring an additional 272 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in First Trust Managed Municipal ETF by 1.4% during the second quarter. Great Valley Advisor Group Inc. now owns 19,317 shares of the company’s stock valued at $962,000 after acquiring an additional 275 shares in the last quarter.

First Trust Managed Municipal ETF Stock Up 0.1%

First Trust Managed Municipal ETF stock opened at $51.40 on Tuesday. The firm’s 50 day simple moving average is $51.15 and its 200 day simple moving average is $51.25. First Trust Managed Municipal ETF has a 1-year low of $49.28 and a 1-year high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be given a dividend of $0.157 per share. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. The ex-dividend date is Thursday, June 25th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

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.