Sutton Place Investors LLC Lowers Stock Position in First Trust Managed Municipal ETF $FMB

Sutton Place Investors LLC cut its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,540 shares of the company’s stock after selling 315 shares during the quarter. Sutton Place Investors LLC’s holdings in First Trust Managed Municipal ETF were worth $425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Investment Planning Advisors Inc. increased its holdings in shares of First Trust Managed Municipal ETF by 1.0% during the second quarter. Investment Planning Advisors Inc. now owns 58,234 shares of the company’s stock valued at $2,901,000 after acquiring an additional 588 shares in the last quarter. Philip James Wealth Mangement LLC increased its holdings in shares of First Trust Managed Municipal ETF by 3.3% during the second quarter. Philip James Wealth Mangement LLC now owns 22,134 shares of the company’s stock valued at $1,103,000 after acquiring an additional 716 shares in the last quarter. Pure Financial Advisors LLC bought a new position in shares of First Trust Managed Municipal ETF during the second quarter valued at $409,000. Truist Financial Corp increased its holdings in shares of First Trust Managed Municipal ETF by 13.6% during the second quarter. Truist Financial Corp now owns 371,440 shares of the company’s stock valued at $18,505,000 after acquiring an additional 44,362 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of First Trust Managed Municipal ETF by 4.5% during the second quarter. Janney Montgomery Scott LLC now owns 336,696 shares of the company’s stock valued at $16,774,000 after acquiring an additional 14,649 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of NASDAQ:FMB opened at $50.78 on Friday. First Trust Managed Municipal ETF has a 1-year low of $48.10 and a 1-year high of $51.99. The business has a fifty day moving average price of $50.14 and a 200-day moving average price of $49.91.

First Trust Managed Municipal ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were issued a dividend of $0.146 per share. The ex-dividend date was Thursday, September 25th. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a dividend yield of 3.5%.

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.