Avantax Planning Partners Inc. Lowers Holdings in First Trust Managed Municipal ETF $FMB

Avantax Planning Partners Inc. decreased its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 842,907 shares of the company’s stock after selling 11,480 shares during the period. First Trust Managed Municipal ETF accounts for about 1.2% of Avantax Planning Partners Inc.’s portfolio, making the stock its 16th biggest holding. Avantax Planning Partners Inc.’s holdings in First Trust Managed Municipal ETF were worth $42,702,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in First Trust Managed Municipal ETF by 3,413.5% in the 1st quarter. Fifth Third Bancorp now owns 86,924 shares of the company’s stock valued at $4,404,000 after acquiring an additional 84,450 shares during the last quarter. Sovran Advisors LLC boosted its position in shares of First Trust Managed Municipal ETF by 9.1% during the 1st quarter. Sovran Advisors LLC now owns 9,340 shares of the company’s stock valued at $477,000 after acquiring an additional 780 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of First Trust Managed Municipal ETF by 5.0% during the 1st quarter. Kestra Advisory Services LLC now owns 151,964 shares of the company’s stock valued at $7,698,000 after acquiring an additional 7,279 shares during the last quarter. Advance Capital Management Inc. grew its holdings in shares of First Trust Managed Municipal ETF by 27.7% in the first quarter. Advance Capital Management Inc. now owns 82,571 shares of the company’s stock valued at $4,183,000 after purchasing an additional 17,895 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new position in shares of First Trust Managed Municipal ETF in the first quarter valued at $53,000.

First Trust Managed Municipal ETF Stock Performance

Shares of FMB opened at $51.21 on Tuesday. The company’s fifty day moving average is $51.17 and its 200 day moving average is $51.27. First Trust Managed Municipal ETF has a fifty-two week low of $49.28 and a fifty-two week high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a $0.157 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

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.