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

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw unusually-high trading volume on Friday . Approximately 215,573 shares traded hands during trading, an increase of 29% from the previous session’s volume of 167,538 shares.The stock last traded at $50.36 and had previously closed at $50.17.

First Trust Managed Municipal ETF Stock Up 0.4 %

The firm has a 50 day moving average price of $51.05 and a 200-day moving average price of $51.31.

First Trust Managed Municipal ETF Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, March 27th.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Several large investors have recently modified their holdings of FMB. Tucker Asset Management LLC boosted its stake in shares of First Trust Managed Municipal ETF by 933.3% during the 4th quarter. Tucker Asset Management LLC now owns 589 shares of the company’s stock worth $30,000 after acquiring an additional 532 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in First Trust Managed Municipal ETF during the fourth quarter worth approximately $108,000. Pinnacle Bancorp Inc. boosted its holdings in First Trust Managed Municipal ETF by 152.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock valued at $110,000 after acquiring an additional 1,300 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of First Trust Managed Municipal ETF by 177.8% during the 4th quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock worth $142,000 after purchasing an additional 1,778 shares during the period. Finally, TrueWealth Advisors LLC purchased a new position in First Trust Managed Municipal ETF in the fourth quarter valued at approximately $207,000.

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.