First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Unusually-High Trading Volume – Here’s Why

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-high trading volume on Monday. 607,680 shares were traded during mid-day trading, an increase of 236% from the previous session’s volume of 180,738 shares. The stock last traded at $47.6450 and had previously closed at $48.09.

First Trust Managed Municipal ETF Price Performance

The firm has a 50-day simple moving average of $49.93 and a 200 day simple moving average of $50.70.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be paid 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 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, September 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of First Trust Managed Municipal ETF by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock valued at $103,691,000 after purchasing an additional 221,955 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 16.1% in the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after acquiring an additional 68,875 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of First Trust Managed Municipal ETF by 11.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock valued at $23,727,000 after acquiring an additional 47,710 shares during the last quarter. Cetera Investment Advisers raised its position in shares of First Trust Managed Municipal ETF by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock valued at $21,181,000 after acquiring an additional 8,583 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in First Trust Managed Municipal ETF by 6.6% during the second quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after purchasing an additional 21,260 shares during 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.