NewSquare Capital LLC Sells 305 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

NewSquare Capital LLC lowered its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,937 shares of the company’s stock after selling 305 shares during the quarter. NewSquare Capital LLC’s holdings in First Trust Managed Municipal ETF were worth $875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of First Trust Managed Municipal ETF by 13.6% in the 3rd quarter. LPL Financial LLC now owns 2,311,853 shares of the company’s stock worth $113,003,000 after purchasing an additional 277,430 shares during the period. Bank of New York Mellon Corp purchased a new stake in First Trust Managed Municipal ETF during the third quarter valued at approximately $11,217,000. RFG Advisory LLC lifted its position in First Trust Managed Municipal ETF by 916.2% during the fourth quarter. RFG Advisory LLC now owns 194,688 shares of the company’s stock valued at $10,058,000 after acquiring an additional 175,530 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in First Trust Managed Municipal ETF by 63.2% during the fourth quarter. Miracle Mile Advisors LLC now owns 444,237 shares of the company’s stock valued at $22,951,000 after acquiring an additional 171,963 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in First Trust Managed Municipal ETF by 20.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 903,423 shares of the company’s stock valued at $46,675,000 after acquiring an additional 156,465 shares during the last quarter.

First Trust Managed Municipal ETF Trading Down 0.1 %

NASDAQ:FMB traded down $0.06 during midday trading on Wednesday, reaching $50.81. 94,065 shares of the stock traded hands, compared to its average volume of 164,069. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $51.77. The business has a 50-day moving average of $51.31 and a two-hundred day moving average of $50.73.

First Trust Managed Municipal ETF Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 24th will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%.

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.