First Trust Managed Municipal ETF (NASDAQ:FMB) Increases Dividend to $0.16 Per Share

First Trust Managed Municipal ETF (NASDAQ:FMB) declared a monthly dividend on Thursday, August 20th, NASDAQ Dividends reports. Investors of record on Friday, August 21st will be paid a dividend of 0.158 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 21st. This is a 0.6% increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

First Trust Managed Municipal ETF Price Performance

Shares of FMB traded down $0.19 during trading hours on Friday, reaching $50.18. The stock had a trading volume of 35,972 shares, compared to its average volume of 149,645. The firm has a 50-day simple moving average of $50.91 and a 200 day simple moving average of $51.13. First Trust Managed Municipal ETF has a 12 month low of $49.57 and a 12 month high of $52.03.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in shares of First Trust Managed Municipal ETF by 2,668.1% in the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after acquiring an additional 182,683 shares during the last quarter. Baird Financial Group Inc. boosted its stake in First Trust Managed Municipal ETF by 0.9% during the 2nd quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock valued at $1,544,000 after purchasing an additional 266 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in First Trust Managed Municipal ETF during the 2nd quarter worth approximately $125,000. Main Street Financial Solutions LLC bought a new stake in First Trust Managed Municipal ETF during the 2nd quarter worth approximately $805,000. Finally, Raymond James Financial Inc. raised its stake in shares of First Trust Managed Municipal ETF by 2.9% in the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after purchasing an additional 34,126 shares during 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.