Janney Montgomery Scott LLC Boosts Stock Position in First Trust Managed Municipal ETF $FMB

Janney Montgomery Scott LLC lifted its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,696 shares of the company’s stock after purchasing an additional 14,649 shares during the quarter. Janney Montgomery Scott LLC’s holdings in First Trust Managed Municipal ETF were worth $16,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMB. Ameriprise Financial Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth about $289,000. GAMMA Investing LLC increased its stake in First Trust Managed Municipal ETF by 4,941.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $79,000 after purchasing an additional 1,532 shares during the period. NBC Securities Inc. increased its stake in First Trust Managed Municipal ETF by 119,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,382 shares of the company’s stock worth $120,000 after purchasing an additional 2,380 shares during the period. TrueWealth Advisors LLC increased its stake in First Trust Managed Municipal ETF by 28.6% in the 1st quarter. TrueWealth Advisors LLC now owns 5,210 shares of the company’s stock worth $263,000 after purchasing an additional 1,158 shares during the period. Finally, Iams Wealth Management LLC purchased a new position in First Trust Managed Municipal ETF in the 1st quarter worth approximately $220,000.

First Trust Managed Municipal ETF Stock Down 0.0%

Shares of First Trust Managed Municipal ETF stock opened at $50.74 on Friday. The business’s 50 day simple moving average is $50.11 and its two-hundred day simple moving average is $49.92. First Trust Managed Municipal ETF has a one year low of $48.10 and a one year high of $52.06.

First Trust Managed Municipal ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were paid a $0.146 dividend. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 25th. This represents a c) dividend on an annualized basis and a yield of 3.5%.

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.