First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Should You Buy?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-high trading volume on Friday . Approximately 215,573 shares traded hands during mid-day trading, an increase of 29% from the previous session’s volume of 167,538 shares.The stock last traded at $50.36 and had previously closed at $50.17.

First Trust Managed Municipal ETF Stock Up 0.4 %

The firm’s 50 day simple moving average is $51.04 and its 200 day simple moving average is $51.30.

First Trust Managed Municipal ETF Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 27th.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several institutional investors have recently added to or reduced their stakes in FMB. Tucker Asset Management LLC boosted its position in shares of First Trust Managed Municipal ETF by 933.3% during the 4th quarter. Tucker Asset Management LLC now owns 589 shares of the company’s stock valued at $30,000 after acquiring an additional 532 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in First Trust Managed Municipal ETF during the fourth quarter valued at $108,000. Pinnacle Bancorp Inc. lifted its position in First Trust Managed Municipal ETF by 152.9% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock valued at $110,000 after purchasing an additional 1,300 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of First Trust Managed Municipal ETF by 177.8% in the 4th quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock worth $142,000 after buying an additional 1,778 shares in the last quarter. Finally, TrueWealth Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF in the 4th quarter worth about $207,000.

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.