Royal Bank of Canada Reduces Stock Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Royal Bank of Canada lowered its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 611,043 shares of the company’s stock after selling 16,871 shares during the period. Royal Bank of Canada’s holdings in First Trust Managed Municipal ETF were worth $31,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC raised its position in shares of First Trust Managed Municipal ETF by 933.3% in the fourth quarter. Tucker Asset Management LLC now owns 589 shares of the company’s stock worth $30,000 after buying an additional 532 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter worth $108,000. Fifth Third Bancorp raised its position in shares of First Trust Managed Municipal ETF by 177.8% in the fourth quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock worth $142,000 after buying an additional 1,778 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter worth $214,000. Finally, Coppell Advisory Solutions LLC raised its position in shares of First Trust Managed Municipal ETF by 428.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 4,361 shares of the company’s stock worth $223,000 after buying an additional 3,535 shares in the last quarter.

First Trust Managed Municipal ETF Trading Up 0.2%

Shares of FMB stock opened at $49.52 on Friday. First Trust Managed Municipal ETF has a 52-week low of $48.10 and a 52-week high of $52.13. The business’s fifty day moving average is $49.91 and its 200 day moving average is $50.75.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 21st will be given a $0.142 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14.

First Trust Managed Municipal ETF 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.