GM Advisory Group LLC Decreases Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

GM Advisory Group LLC lessened its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,750 shares of the company’s stock after selling 1,122 shares during the quarter. GM Advisory Group LLC’s holdings in First Trust Managed Municipal ETF were worth $10,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FMB. Duncker Streett & Co. Inc. purchased a new position in First Trust Managed Municipal ETF during the 4th quarter valued at about $108,000. Pinnacle Bancorp Inc. boosted its position in shares of First Trust Managed Municipal ETF by 152.9% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock valued at $110,000 after acquiring an additional 1,300 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of First Trust Managed Municipal ETF by 177.8% during the 4th quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock valued at $142,000 after acquiring an additional 1,778 shares during the last quarter. TrueWealth Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter valued at about $207,000. Finally, Maia Wealth LLC bought a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter valued at about $234,000.

First Trust Managed Municipal ETF Trading Up 0.1 %

Shares of FMB opened at $50.87 on Wednesday. The stock has a 50-day moving average price of $51.07 and a 200-day moving average price of $51.36. 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 Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.14 per share. The ex-dividend date was Friday, February 21st.

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.