First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Should You Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw an uptick in trading volume on Thursday. Approximately 870,391 shares traded hands during mid-day trading, an increase of 334% from the previous session’s volume of 200,326 shares. The stock last traded at $47.77 and had previously closed at $47.70.

First Trust Managed Municipal ETF Stock Performance

The stock has a fifty day simple moving average of $49.51 and a 200-day simple moving average of $50.51.

First Trust Managed Municipal ETF Increases Dividend

The company 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. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, September 24th.

Institutional Trading of First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kintra Wealth LLC raised its position in shares of First Trust Managed Municipal ETF by 1.2% in the 2nd quarter. Kintra Wealth LLC now owns 18,958 shares of the company’s stock worth $962,000 after purchasing an additional 216 shares during the last quarter. Waverly Advisors LLC grew its position in First Trust Managed Municipal ETF by 0.4% during the 2nd quarter. Waverly Advisors LLC now owns 63,752 shares of the company’s stock valued at $3,275,000 after purchasing an additional 233 shares during the last quarter. World Investment Advisors increased its stake in First Trust Managed Municipal ETF by 3.7% during the 1st quarter. World Investment Advisors now owns 8,410 shares of the company’s stock valued at $426,000 after purchasing an additional 302 shares in the last quarter. Heck Capital Advisors LLC raised its holdings in First Trust Managed Municipal ETF by 0.8% in the second quarter. Heck Capital Advisors LLC now owns 42,983 shares of the company’s stock worth $2,208,000 after buying an additional 320 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new position in First Trust Managed Municipal ETF in the second quarter worth about $29,000.

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.