Independent Advisor Alliance Invests $14.83 Million in First Trust Managed Municipal ETF (NASDAQ:FMB)

Independent Advisor Alliance bought a new position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 290,714 shares of the company’s stock, valued at approximately $14,829,000. Independent Advisor Alliance owned 0.74% of First Trust Managed Municipal ETF at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FMB. Private Trust Co. NA grew its position in First Trust Managed Municipal ETF by 1.0% during the fourth quarter. Private Trust Co. NA now owns 20,210 shares of the company’s stock worth $1,031,000 after buying an additional 200 shares in the last quarter. Valmark Advisers Inc. grew its position in First Trust Managed Municipal ETF by 3.2% during the fourth quarter. Valmark Advisers Inc. now owns 8,386 shares of the company’s stock worth $428,000 after buying an additional 257 shares in the last quarter. WealthCare Investment Partners LLC grew its position in First Trust Managed Municipal ETF by 0.6% during the fourth quarter. WealthCare Investment Partners LLC now owns 48,816 shares of the company’s stock worth $2,495,000 after buying an additional 274 shares in the last quarter. Westside Investment Management Inc. grew its position in First Trust Managed Municipal ETF by 0.5% during the third quarter. Westside Investment Management Inc. now owns 63,442 shares of the company’s stock worth $3,294,000 after buying an additional 343 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its position in First Trust Managed Municipal ETF by 3.5% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 10,064 shares of the company’s stock worth $513,000 after buying an additional 343 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ:FMB opened at $51.15 on Monday. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $52.13. The business’s 50 day simple moving average is $51.08 and its 200 day simple moving average is $51.39.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, February 21st.

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.