First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Here’s Why

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Monday . 585,353 shares were traded during mid-day trading, an increase of 254% from the previous session’s volume of 165,267 shares.The stock last traded at $48.9750 and had previously closed at $49.02.

First Trust Managed Municipal ETF Stock Performance

The company’s 50-day moving average price is $50.19 and its two-hundred day moving average price is $50.81.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.158 per share. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, August 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of First Trust Managed Municipal ETF by 12.2% in the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after buying an additional 221,955 shares during the period. Fifth Third Bancorp grew its holdings in shares of First Trust Managed Municipal ETF by 3,413.5% during the first quarter. Fifth Third Bancorp now owns 86,924 shares of the company’s stock valued at $4,404,000 after buying an additional 84,450 shares in the last quarter. NewEdge Advisors LLC raised its position in First Trust Managed Municipal ETF by 16.1% during the second quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after buying an additional 68,875 shares during the period. Arax Advisory Partners acquired a new position in First Trust Managed Municipal ETF during the fourth quarter valued at $3,395,000. Finally, Capital Financial Group Inc. Co. ADV purchased a new stake in First Trust Managed Municipal ETF in the 4th quarter worth about $2,861,000.

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.