Rehmann Capital Advisory Group Cuts Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

Rehmann Capital Advisory Group decreased its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 6.9% in the 4th quarter, Holdings Channel reports. The fund owned 51,999 shares of the company’s stock after selling 3,852 shares during the period. Rehmann Capital Advisory Group’s holdings in First Trust Managed Municipal ETF were worth $2,652,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FMB. Tucker Asset Management LLC increased its holdings in 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 purchasing an additional 532 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Trust Managed Municipal ETF during the fourth quarter worth approximately $108,000. Pinnacle Bancorp Inc. grew its position in shares of First Trust Managed Municipal ETF by 152.9% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock worth $110,000 after buying an additional 1,300 shares in the last quarter. Fifth Third Bancorp increased its stake 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 during the last quarter. Finally, TrueWealth Advisors LLC acquired a new stake in First Trust Managed Municipal ETF in the fourth quarter valued at $207,000.

First Trust Managed Municipal ETF Price Performance

Shares of FMB stock opened at $49.77 on Wednesday. The firm has a fifty day moving average of $50.41 and a two-hundred day moving average of $50.94. First Trust Managed Municipal ETF has a 1-year low of $48.10 and a 1-year high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a $0.141 dividend. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, April 22nd.

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.