Bank of New York Mellon Corp Sells 3,477 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Bank of New York Mellon Corp reduced its holdings in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,804 shares of the company’s stock after selling 3,477 shares during the period. Bank of New York Mellon Corp owned about 0.54% of First Trust Managed Municipal ETF worth $10,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FMB. Summit Investment Advisors Inc. grew its stake in shares of First Trust Managed Municipal ETF by 3.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,640 shares of the company’s stock valued at $492,000 after buying an additional 341 shares during the last quarter. McNamara Financial Services Inc. boosted its holdings in shares of First Trust Managed Municipal ETF by 7.1% in the 1st quarter. McNamara Financial Services Inc. now owns 5,371 shares of the company’s stock valued at $271,000 after buying an additional 354 shares in the last quarter. Elios Financial Group Inc. increased its position in shares of First Trust Managed Municipal ETF by 0.6% during the fourth quarter. Elios Financial Group Inc. now owns 69,751 shares of the company’s stock worth $3,558,000 after purchasing an additional 435 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in First Trust Managed Municipal ETF by 2.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 21,284 shares of the company’s stock valued at $1,086,000 after buying an additional 493 shares during the last quarter. Finally, NewSquare Capital LLC grew its position in First Trust Managed Municipal ETF by 4.2% during the 1st quarter. NewSquare Capital LLC now owns 12,807 shares of the company’s stock worth $646,000 after purchasing an additional 514 shares during the last quarter.

First Trust Managed Municipal ETF Trading Up 0.2%

NASDAQ:FMB opened at $49.51 on Tuesday. First Trust Managed Municipal ETF has a 1-year low of $48.10 and a 1-year high of $52.13. The company’s 50-day moving average is $49.73 and its two-hundred day moving average is $50.29.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were given a dividend of $0.144 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.73 dividend on an annualized basis and a yield of 3.49%. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14.

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.