Modern Wealth Management LLC Raises Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

Modern Wealth Management LLC increased its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,723 shares of the company’s stock after purchasing an additional 3,620 shares during the quarter. Modern Wealth Management LLC owned 0.10% of First Trust Managed Municipal ETF worth $1,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in First Trust Managed Municipal ETF during the fourth quarter worth $58,677,000. Miracle Mile Advisors LLC increased its position in shares of First Trust Managed Municipal ETF by 5.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 629,831 shares of the company’s stock valued at $32,128,000 after buying an additional 29,957 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of First Trust Managed Municipal ETF by 0.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 604,941 shares of the company’s stock worth $30,858,000 after buying an additional 2,306 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Trust Managed Municipal ETF by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock worth $21,896,000 after buying an additional 25,002 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of First Trust Managed Municipal ETF by 5.4% in the 3rd quarter. Stifel Financial Corp now owns 330,745 shares of the company’s stock worth $17,186,000 after buying an additional 16,894 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

NASDAQ:FMB opened at $50.70 on Wednesday. The firm has a 50-day moving average price of $51.07 and a two-hundred day moving average price of $51.33. First Trust Managed Municipal ETF has a twelve month low of $48.10 and a twelve month high of $52.13.

First Trust Managed Municipal ETF Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was 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.