Stephens Consulting LLC Sells 677 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Stephens Consulting LLC cut its position in First Trust Managed Municipal ETF (NASDAQ:FMB) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,512 shares of the company’s stock after selling 677 shares during the quarter. Stephens Consulting LLC’s holdings in First Trust Managed Municipal ETF were worth $128,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. boosted its position in shares of First Trust Managed Municipal ETF by 152.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock worth $110,000 after purchasing an additional 1,300 shares in the last quarter. Fifth Third Bancorp boosted its holdings in First Trust Managed Municipal ETF by 177.8% in the fourth quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock worth $142,000 after acquiring an additional 1,778 shares in the last quarter. Christopher J. Hasenberg Inc purchased a new stake in shares of First Trust Managed Municipal ETF during the third quarter worth about $166,000. Dopkins Wealth Management LLC acquired a new position in shares of First Trust Managed Municipal ETF during the third quarter valued at about $201,000. Finally, TrueWealth Advisors LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at approximately $207,000.

First Trust Managed Municipal ETF Price Performance

NASDAQ:FMB opened at $51.09 on Tuesday. First Trust Managed Municipal ETF has a twelve month low of $48.10 and a twelve month high of $52.13. The company’s 50 day moving average is $51.17 and its two-hundred day moving average is $51.44.

First Trust Managed Municipal ETF Increases Dividend

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

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.