Sovran Advisors LLC Takes $506,000 Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Sovran Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,993 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC grew its stake in First Trust Managed Municipal ETF by 6.9% during the 3rd quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock worth $130,283,000 after buying an additional 162,331 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 5.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 629,831 shares of the company’s stock valued at $32,128,000 after buying an additional 29,957 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Trust Managed Municipal ETF by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock valued at $21,896,000 after purchasing an additional 25,002 shares during the period. OneDigital Investment Advisors LLC lifted its stake in First Trust Managed Municipal ETF by 5.0% during the third quarter. OneDigital Investment Advisors LLC now owns 419,165 shares of the company’s stock valued at $21,780,000 after buying an additional 19,917 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in First Trust Managed Municipal ETF by 5.4% in the 3rd quarter. Stifel Financial Corp now owns 330,745 shares of the company’s stock worth $17,186,000 after acquiring an additional 16,894 shares in the last quarter.

First Trust Managed Municipal ETF Trading Down 0.4 %

Shares of NASDAQ:FMB opened at $50.96 on Thursday. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $52.13. The business has a fifty day simple moving average of $51.10 and a 200 day simple moving average of $51.44.

First Trust Managed Municipal ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were paid a $0.14 dividend. This is a boost 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.