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

First Trust Managed Municipal ETF (NASDAQ:FMB) saw strong trading volume on Monday . 585,353 shares changed hands during mid-day trading, an increase of 254% from the previous session’s volume of 165,267 shares.The stock last traded at $48.9750 and had previously closed at $49.02.

First Trust Managed Municipal ETF Stock Performance

The stock has a 50 day simple moving average of $50.10 and a 200 day simple moving average of $50.77.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were given a $0.158 dividend. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, August 21st. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. True Blue Financial LLC boosted its stake in First Trust Managed Municipal ETF by 8.7% during the 1st quarter. True Blue Financial LLC now owns 269,428 shares of the company’s stock valued at $13,649,000 after acquiring an additional 21,459 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of First Trust Managed Municipal ETF by 124.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock valued at $2,390,000 after purchasing an additional 25,824 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the 4th quarter valued at about $675,000. Blackhawk Capital Partners LLC lifted its position in shares of First Trust Managed Municipal ETF by 53.1% during the first quarter. Blackhawk Capital Partners LLC now owns 114,133 shares of the company’s stock worth $5,782,000 after purchasing an additional 39,581 shares during the last quarter. Finally, Waverly Advisors LLC grew its stake in First Trust Managed Municipal ETF by 35.0% in the first quarter. Waverly Advisors LLC now owns 63,519 shares of the company’s stock worth $3,218,000 after purchasing an additional 16,467 shares in the last quarter.

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.