Avantax Planning Partners Inc. Sells 11,480 Shares of First Trust Managed Municipal ETF $FMB

Avantax Planning Partners Inc. cut its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 842,907 shares of the company’s stock after selling 11,480 shares during the period. First Trust Managed Municipal ETF comprises about 1.2% of Avantax Planning Partners Inc.’s investment portfolio, making the stock its 16th biggest position. Avantax Planning Partners Inc. owned approximately 2.14% of First Trust Managed Municipal ETF worth $42,702,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of First Trust Managed Municipal ETF by 2,668.1% during the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after buying an additional 182,683 shares in the last quarter. Baird Financial Group Inc. increased its holdings in First Trust Managed Municipal ETF by 0.9% in the 2nd quarter. Baird Financial Group Inc. now owns 30,995 shares of the company’s stock worth $1,544,000 after acquiring an additional 266 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in First Trust Managed Municipal ETF during the 2nd quarter worth approximately $125,000. Main Street Financial Solutions LLC bought a new stake in First Trust Managed Municipal ETF during the 2nd quarter worth approximately $805,000. Finally, Raymond James Financial Inc. raised its stake in First Trust Managed Municipal ETF by 2.9% during the 2nd quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after acquiring an additional 34,126 shares during the period.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ:FMB opened at $51.21 on Tuesday. First Trust Managed Municipal ETF has a 1-year low of $49.28 and a 1-year high of $52.03. The firm’s 50 day simple moving average is $51.17 and its two-hundred day simple moving average is $51.27.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.157 per share. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, June 25th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

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.