Seascape Capital Management Reduces Stock Position in First Trust Managed Municipal ETF (NASDAQ:FMB)

Seascape Capital Management cut its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,000 shares of the company’s stock after selling 1,600 shares during the period. Seascape Capital Management’s holdings in First Trust Managed Municipal ETF were worth $969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FMB. Hedeker Wealth LLC lifted its holdings in First Trust Managed Municipal ETF by 53.3% in the fourth quarter. Hedeker Wealth LLC now owns 53,262 shares of the company’s stock valued at $2,717,000 after acquiring an additional 18,519 shares during the period. Atomi Financial Group Inc. bought a new position in shares of First Trust Managed Municipal ETF in the 4th quarter worth approximately $249,000. JPMorgan Chase & Co. boosted its holdings in shares of First Trust Managed Municipal ETF by 6.3% in the third quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock worth $21,896,000 after buying an additional 25,002 shares during the last quarter. Fifth Third Bancorp grew its position in First Trust Managed Municipal ETF by 177.8% during the fourth quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock valued at $142,000 after buying an additional 1,778 shares during the period. Finally, Jane Street Group LLC purchased a new stake in First Trust Managed Municipal ETF during the third quarter valued at approximately $1,555,000.

First Trust Managed Municipal ETF Trading Up 0.2 %

FMB opened at $51.20 on Friday. First Trust Managed Municipal ETF has a 1-year low of $48.10 and a 1-year high of $52.13. The firm’s 50 day simple moving average is $51.05 and its two-hundred day simple moving average is $51.43.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were issued a $0.14 dividend. This is a boost from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date was Wednesday, January 22nd.

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.