First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Should You Buy?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Tuesday . Approximately 229,038 shares were traded during trading, an increase of 46% from the previous session’s volume of 157,190 shares.The stock last traded at $49.1190 and had previously closed at $49.13.

First Trust Managed Municipal ETF Stock Down 0.3%

The firm’s fifty day moving average is $50.36 and its 200 day moving average is $50.89.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were given a $0.158 dividend. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 21st.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several large investors have recently made changes to their positions in FMB. Bank of America Corp DE raised its position in First Trust Managed Municipal ETF by 12.2% in the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after purchasing an additional 221,955 shares in the last quarter. Fifth Third Bancorp boosted its holdings in First Trust Managed Municipal ETF by 3,413.5% during the first quarter. Fifth Third Bancorp now owns 86,924 shares of the company’s stock valued at $4,404,000 after purchasing an additional 84,450 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of First Trust Managed Municipal ETF by 16.1% in the 2nd quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock valued at $25,565,000 after purchasing an additional 68,875 shares during the period. Arax Advisory Partners acquired a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth approximately $3,395,000. Finally, Capital Financial Group Inc. Co. ADV acquired a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth approximately $2,861,000.

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.