Royal Bank of Canada Reduces Stake in First Trust Managed Municipal ETF $FMB

Royal Bank of Canada cut its holdings in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 9.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 416,337 shares of the company’s stock after selling 44,205 shares during the quarter. Royal Bank of Canada’s holdings in First Trust Managed Municipal ETF were worth $21,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FMB. Pursuit Wealth Management LLC bought a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter valued at $1,382,000. Seascape Capital Management boosted its stake in First Trust Managed Municipal ETF by 36.0% during the fourth 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 in the last quarter. UBS Group AG boosted its stake in First Trust Managed Municipal ETF by 2.1% during the fourth quarter. UBS Group AG now owns 1,836,968 shares of the company’s stock worth $93,933,000 after acquiring an additional 38,553 shares in the last quarter. True Blue Financial LLC grew its holdings in First Trust Managed Municipal ETF by 8.7% in the first quarter. True Blue Financial LLC now owns 269,428 shares of the company’s stock worth $13,649,000 after purchasing an additional 21,459 shares during the period. Finally, Mutual Advisors LLC increased its stake in shares of First Trust Managed Municipal ETF by 75.3% during the fourth quarter. Mutual Advisors LLC now owns 60,897 shares of the company’s stock valued at $3,114,000 after purchasing an additional 26,163 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

Shares of FMB opened at $50.50 on Thursday. The business’s 50 day moving average price is $51.06 and its 200-day moving average price is $51.19. First Trust Managed Municipal ETF has a 52 week low of $49.49 and a 52 week high of $52.03.

First Trust Managed Municipal ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 21st were paid a $0.157 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 21st.

First Trust Managed Municipal ETF Company 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.