Dynamic Advisor Solutions LLC Buys 14,902 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Dynamic Advisor Solutions LLC lifted its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 148.6% during the first quarter, HoldingsChannel reports. The firm owned 24,929 shares of the company’s stock after purchasing an additional 14,902 shares during the period. Dynamic Advisor Solutions LLC’s holdings in First Trust Managed Municipal ETF were worth $1,257,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FMB. Raymond James Financial Inc. bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $58,677,000. Independent Advisor Alliance bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $14,829,000. Focus Partners Advisor Solutions LLC grew its holdings in shares of First Trust Managed Municipal ETF by 620.3% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 150,146 shares of the company’s stock worth $7,659,000 after purchasing an additional 129,301 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of First Trust Managed Municipal ETF by 44.7% in the fourth quarter. Larson Financial Group LLC now owns 276,049 shares of the company’s stock worth $14,081,000 after purchasing an additional 85,293 shares during the last quarter. Finally, OLD Mission Capital LLC bought a new position in shares of First Trust Managed Municipal ETF in the fourth quarter worth about $3,208,000.

First Trust Managed Municipal ETF Stock Performance

NASDAQ FMB opened at $49.73 on Tuesday. The company’s 50-day moving average price is $49.65 and its 200-day moving average price is $50.54. First Trust Managed Municipal ETF has a 12 month low of $48.10 and a 12 month high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.142 per share. This represents a $1.70 annualized dividend and a yield of 3.43%. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. The ex-dividend date was Wednesday, May 21st.

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.