Sequoia Financial Advisors LLC Sells 14,208 Shares of First Trust Managed Municipal ETF $FMB

Sequoia Financial Advisors LLC cut its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,120 shares of the company’s stock after selling 14,208 shares during the quarter. Sequoia Financial Advisors LLC owned 0.36% of First Trust Managed Municipal ETF worth $7,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Friday Financial lifted its position in First Trust Managed Municipal ETF by 111.3% in the fourth quarter. Friday Financial now owns 31,429 shares of the company’s stock worth $1,607,000 after purchasing an additional 16,555 shares during the period. Foster & Motley Inc. increased its holdings in First Trust Managed Municipal ETF by 33.4% in the 4th quarter. Foster & Motley Inc. now owns 108,922 shares of the company’s stock valued at $5,570,000 after buying an additional 27,297 shares during the period. Pursuit Wealth Management LLC acquired a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at $1,382,000. QP Wealth Management LLC acquired a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at $728,000. Finally, Seascape Capital Management lifted its holdings in shares of First Trust Managed Municipal ETF by 36.0% during the 4th quarter. Seascape Capital Management now owns 64,250 shares of the company’s stock worth $3,285,000 after acquiring an additional 17,000 shares during the period.

First Trust Managed Municipal ETF Stock Performance

Shares of First Trust Managed Municipal ETF stock opened at $51.21 on Monday. The firm’s 50-day simple moving average is $51.17 and its 200-day simple moving average is $51.27. First Trust Managed Municipal ETF has a twelve month low of $49.28 and a twelve month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.157 dividend. This represents a c) dividend on an annualized basis and a yield of 3.7%. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. The ex-dividend date was Thursday, June 25th.

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.