First Trust Managed Municipal ETF $FMB Stock: Investment Planning Advisors Inc. Decreases Holdings

Investment Planning Advisors Inc. decreased its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 91.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kintra Wealth LLC raised its position in shares of First Trust Managed Municipal ETF by 1.2% during 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 boosted its holdings in First Trust Managed Municipal ETF by 0.4% in the 2nd quarter. Waverly Advisors LLC now owns 63,752 shares of the company’s stock worth $3,275,000 after buying an additional 233 shares during the last quarter. World Investment Advisors boosted its holdings in First Trust Managed Municipal ETF by 3.7% in the 1st quarter. World Investment Advisors now owns 8,410 shares of the company’s stock worth $426,000 after buying an additional 302 shares during the last quarter. Heck Capital Advisors LLC boosted its holdings in First Trust Managed Municipal ETF by 0.8% in the 2nd 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 acquired a new stake in First Trust Managed Municipal ETF in the 2nd quarter worth about $29,000.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB traded down $0.10 during trading hours on Wednesday, hitting $48.23. 222,920 shares of the stock were exchanged, compared to its average volume of 210,361. First Trust Managed Municipal ETF has a 52-week low of $47.38 and a 52-week high of $52.03. The firm’s fifty day moving average price is $49.33 and its 200 day moving average price is $50.43.

First Trust Managed Municipal ETF Increases Dividend

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

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.