Grant GrossMendelsohn LLC Cuts Stock Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Grant GrossMendelsohn LLC reduced its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,100 shares of the company’s stock after selling 14,561 shares during the period. Grant GrossMendelsohn LLC’s holdings in First Trust Managed Municipal ETF were worth $1,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC purchased a new stake in shares of First Trust Managed Municipal ETF during the third quarter worth about $13,088,000. LPL Financial LLC raised its position in shares of First Trust Managed Municipal ETF by 6.9% in the 3rd quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock valued at $130,283,000 after purchasing an additional 162,331 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of First Trust Managed Municipal ETF by 5,096.0% during 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 in the last quarter. Miracle Mile Advisors LLC increased its stake in shares of First Trust Managed Municipal ETF by 22.2% in the third quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock worth $31,169,000 after buying an additional 109,001 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in First Trust Managed Municipal ETF in the second quarter valued at $3,590,000.

First Trust Managed Municipal ETF Price Performance

Shares of FMB stock opened at $50.89 on Friday. The firm has a fifty day moving average of $51.25 and a two-hundred day moving average of $51.47. 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 Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.139 dividend. The ex-dividend date of this dividend was Friday, December 13th.

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.