Freedom Investment Management Inc. Cuts Stake in First Trust Managed Municipal ETF $FMB

Freedom Investment Management Inc. reduced its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,936 shares of the company’s stock after selling 1,773 shares during the quarter. Freedom Investment Management Inc.’s holdings in First Trust Managed Municipal ETF were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FMB. Flaharty Asset Management LLC purchased a new stake in First Trust Managed Municipal ETF during the 1st quarter valued at approximately $58,000. Pinnacle Bancorp Inc. grew its holdings in First Trust Managed Municipal ETF by 18.7% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 2,552 shares of the company’s stock valued at $127,000 after buying an additional 402 shares in the last quarter. Financial Futures Ltd Liability Co. purchased a new stake in First Trust Managed Municipal ETF during the 1st quarter valued at approximately $209,000. Pandora Wealth Inc. purchased a new stake in First Trust Managed Municipal ETF during the 1st quarter valued at approximately $231,000. Finally, Triumph Capital Management grew its holdings in First Trust Managed Municipal ETF by 11.3% during the 2nd quarter. Triumph Capital Management now owns 4,914 shares of the company’s stock valued at $245,000 after buying an additional 500 shares in the last quarter.

First Trust Managed Municipal ETF Stock Up 0.0%

Shares of FMB opened at $51.21 on Friday. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $51.99. The company has a 50 day simple moving average of $50.52 and a two-hundred day simple moving average of $49.96.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be issued a $0.146 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%.

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.