Arax Advisory Partners Purchases New Holdings in First Trust Managed Municipal ETF $FMB

Arax Advisory Partners purchased a new stake in First Trust Managed Municipal ETF (NASDAQ:FMB) in the fourth quarter, HoldingsChannel reports. The firm purchased 66,383 shares of the company’s stock, valued at approximately $3,395,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stonehaven Wealth & Tax Solutions LLC increased its holdings in shares of First Trust Managed Municipal ETF by 4.3% in the third quarter. Stonehaven Wealth & Tax Solutions LLC now owns 4,800 shares of the company’s stock valued at $243,000 after purchasing an additional 200 shares in the last quarter. First Trust Advisors LP boosted its stake in First Trust Managed Municipal ETF by 1.7% in the third quarter. First Trust Advisors LP now owns 13,099 shares of the company’s stock valued at $664,000 after acquiring an additional 220 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in First Trust Managed Municipal ETF by 3.0% in the third quarter. Ameritas Investment Partners Inc. now owns 9,207 shares of the company’s stock valued at $467,000 after acquiring an additional 264 shares during the last quarter. Baird Financial Group Inc. boosted its stake in First Trust Managed Municipal ETF by 0.9% in the second quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock valued at $1,544,000 after acquiring an additional 266 shares during the last quarter. Finally, Forum Private Client Group LLC boosted its stake in First Trust Managed Municipal ETF by 2.2% in the fourth quarter. Forum Private Client Group LLC now owns 12,387 shares of the company’s stock valued at $633,000 after acquiring an additional 272 shares during the last quarter.

First Trust Managed Municipal ETF Price Performance

Shares of FMB stock opened at $51.26 on Monday. First Trust Managed Municipal ETF has a 52-week low of $49.28 and a 52-week high of $52.03. The firm’s 50 day moving average price is $51.09 and its two-hundred day moving average price is $51.23.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were paid a $0.156 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 3.7%.

About First Trust Managed Municipal ETF

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.