First Trust Managed Municipal ETF (NASDAQ:FMB) Shares Gap Down – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $51.02, but opened at $48.10. First Trust Managed Municipal ETF shares last traded at $51.00, with a volume of 41,171 shares.

First Trust Managed Municipal ETF Trading Up 0.1 %

The firm has a 50-day simple moving average of $51.77 and a 200-day simple moving average of $51.37.

First Trust Managed Municipal ETF Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 22nd will be given a dividend of $0.139 per share. The ex-dividend date is Tuesday, October 22nd.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of large investors have recently added to or reduced their stakes in FMB. DHJJ Financial Advisors Ltd. raised its stake in shares of First Trust Managed Municipal ETF by 119.4% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock worth $40,000 after acquiring an additional 430 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of First Trust Managed Municipal ETF during the second quarter worth $51,000. IAG Wealth Partners LLC purchased a new stake in shares of First Trust Managed Municipal ETF during the 2nd quarter valued at $53,000. WR Wealth Planners LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the 2nd quarter worth $56,000. Finally, International Assets Investment Management LLC purchased a new position in First Trust Managed Municipal ETF during the 2nd quarter worth $112,000.

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.