Wealth Management Resources Inc. Reduces Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Wealth Management Resources Inc. lessened its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 45.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 44,099 shares of the company’s stock after selling 37,022 shares during the quarter. First Trust Managed Municipal ETF accounts for about 1.0% of Wealth Management Resources Inc.’s holdings, making the stock its 21st biggest position. Wealth Management Resources Inc.’s holdings in First Trust Managed Municipal ETF were worth $2,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at approximately $52,000. AdvisorNet Financial Inc boosted its stake in shares of First Trust Managed Municipal ETF by 26.9% in the fourth quarter. AdvisorNet Financial Inc now owns 1,450 shares of the company’s stock valued at $75,000 after buying an additional 307 shares in the last quarter. Tidemark LLC purchased a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at approximately $76,000. Finally, NBC Securities Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 71.4% in the fourth quarter. NBC Securities Inc. now owns 2,575 shares of the company’s stock valued at $133,000 after buying an additional 1,073 shares in the last quarter.

First Trust Managed Municipal ETF Stock Up 0.3 %

Shares of First Trust Managed Municipal ETF stock traded up $0.13 during trading on Thursday, reaching $51.25. The company’s stock had a trading volume of 69,509 shares, compared to its average volume of 154,808. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $51.77. The business has a 50 day moving average price of $51.03 and a 200-day moving average price of $51.26.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a $0.137 dividend. The ex-dividend date was Thursday, June 27th.

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.