First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Position Reduced by Golden State Wealth Management LLC

Golden State Wealth Management LLC cut its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 22.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,860 shares of the company’s stock after selling 15,925 shares during the period. Golden State Wealth Management LLC owned about 0.14% of First Trust Managed Municipal ETF worth $2,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FMB. Raymond James Financial Inc. purchased a new position in First Trust Managed Municipal ETF during the fourth quarter valued at approximately $58,677,000. Independent Advisor Alliance purchased a new position in First Trust Managed Municipal ETF during the fourth quarter valued at approximately $14,829,000. Focus Partners Advisor Solutions LLC grew its position in First Trust Managed Municipal ETF by 620.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 150,146 shares of the company’s stock valued at $7,659,000 after purchasing an additional 129,301 shares in the last quarter. Larson Financial Group LLC grew its position in First Trust Managed Municipal ETF by 44.7% during the fourth quarter. Larson Financial Group LLC now owns 276,049 shares of the company’s stock valued at $14,081,000 after purchasing an additional 85,293 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in First Trust Managed Municipal ETF in the fourth quarter worth approximately $3,208,000.

First Trust Managed Municipal ETF Price Performance

FMB stock opened at $49.84 on Friday. First Trust Managed Municipal ETF has a 12 month low of $48.10 and a 12 month high of $52.13. The firm has a 50 day moving average of $49.74 and a two-hundred day moving average of $50.38.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were given a $0.144 dividend. This represents a $1.73 annualized dividend and a yield of 3.47%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. The ex-dividend date was Thursday, June 26th.

First Trust Managed Municipal ETF Company 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.