First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw strong trading volume on Wednesday . 944,871 shares changed hands during trading, an increase of 551% from the previous session’s volume of 145,055 shares.The stock last traded at $51.2950 and had previously closed at $51.24.

First Trust Managed Municipal ETF Trading Up 0.2%

The stock’s fifty day moving average is $51.15 and its 200-day moving average is $50.53.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a dividend of $0.147 per share. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, December 12th.

Institutional Trading of First Trust Managed Municipal ETF

A number of institutional investors have recently made changes to their positions in FMB. Pinnacle Bancorp Inc. boosted its position in First Trust Managed Municipal ETF by 7.8% during the third quarter. Pinnacle Bancorp Inc. now owns 2,752 shares of the company’s stock worth $140,000 after acquiring an additional 200 shares during the last quarter. Stonehaven Wealth & Tax Solutions LLC lifted its stake in First Trust Managed Municipal ETF by 4.3% in the 3rd quarter. Stonehaven Wealth & Tax Solutions LLC now owns 4,800 shares of the company’s stock worth $243,000 after purchasing an additional 200 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of First Trust Managed Municipal ETF by 0.4% during the 2nd quarter. Prospera Financial Services Inc now owns 61,466 shares of the company’s stock worth $3,063,000 after purchasing an additional 216 shares during the last quarter. Financial Strategies Group Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 1.2% during the 3rd quarter. Financial Strategies Group Inc. now owns 17,855 shares of the company’s stock worth $914,000 after purchasing an additional 220 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of First Trust Managed Municipal ETF by 1.7% in the third quarter. First Trust Advisors LP now owns 13,099 shares of the company’s stock valued at $664,000 after purchasing an additional 220 shares in the last quarter.

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.