Alta Wealth Advisors LLC Cuts Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Alta Wealth Advisors LLC decreased its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 54.1% during the fourth quarter, HoldingsChannel reports. The firm owned 7,413 shares of the company’s stock after selling 8,752 shares during the period. Alta Wealth Advisors LLC’s holdings in First Trust Managed Municipal ETF were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC purchased a new stake in shares of First Trust Managed Municipal ETF in the 3rd quarter valued at $13,088,000. LPL Financial LLC grew its stake in shares of First Trust Managed Municipal ETF by 6.9% during the third quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock valued at $130,283,000 after buying an additional 162,331 shares during the last quarter. Brady Martz Wealth Solutions LLC purchased a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $6,440,000. International Assets Investment Management LLC increased its holdings in shares of First Trust Managed Municipal ETF by 5,096.0% in the third quarter. International Assets Investment Management LLC now owns 114,208 shares of the company’s stock worth $5,934,000 after buying an additional 112,010 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in shares of First Trust Managed Municipal ETF by 22.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock valued at $31,169,000 after acquiring an additional 109,001 shares during the last quarter.

First Trust Managed Municipal ETF Stock Performance

FMB opened at $51.10 on Friday. The stock’s 50 day simple moving average is $51.18 and its 200 day simple moving average is $51.45. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 22nd will be paid a $0.14 dividend. This is an increase from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date is Wednesday, January 22nd.

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.