Pine Valley Investments Ltd Liability Co Trims Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

Pine Valley Investments Ltd Liability Co trimmed its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 16.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,692 shares of the company’s stock after selling 8,776 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in First Trust Managed Municipal ETF were worth $2,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. grew its holdings in shares of First Trust Managed Municipal ETF by 152.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock valued at $110,000 after purchasing an additional 1,300 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of First Trust Managed Municipal ETF by 177.8% in the fourth quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock valued at $142,000 after purchasing an additional 1,778 shares in the last quarter. Dopkins Wealth Management LLC acquired a new position in shares of First Trust Managed Municipal ETF in the third quarter valued at approximately $201,000. TrueWealth Advisors LLC acquired a new position in shares of First Trust Managed Municipal ETF in the fourth quarter valued at approximately $207,000. Finally, James Investment Research Inc. acquired a new position in shares of First Trust Managed Municipal ETF in the third quarter valued at approximately $224,000.

First Trust Managed Municipal ETF Stock Performance

Shares of FMB stock opened at $51.39 on Wednesday. The company has a 50 day moving average price of $51.00 and a 200 day moving average price of $51.41. First Trust Managed Municipal ETF has a fifty-two week low of $48.10 and a fifty-two week high of $52.13.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 21st.

First Trust Managed Municipal ETF 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.