Janney Montgomery Scott LLC Buys 40,338 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Janney Montgomery Scott LLC lifted its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,349 shares of the company’s stock after purchasing an additional 40,338 shares during the quarter. Janney Montgomery Scott LLC owned about 0.79% of First Trust Managed Municipal ETF worth $15,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its holdings in shares of 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 acquiring an additional 1,300 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new position in First Trust Managed Municipal ETF during the third quarter worth $166,000. Dopkins Wealth Management LLC bought a new position in shares of First Trust Managed Municipal ETF in the third quarter valued at $201,000. TrueWealth Advisors LLC purchased a new position in shares of First Trust Managed Municipal ETF during the fourth quarter valued at approximately $207,000. Finally, James Investment Research Inc. purchased a new stake in First Trust Managed Municipal ETF in the 3rd quarter valued at $224,000.

First Trust Managed Municipal ETF Price Performance

FMB opened at $50.84 on Friday. First Trust Managed Municipal ETF has a fifty-two week low of $48.10 and a fifty-two week high of $52.13. The company’s 50-day moving average is $51.20 and its 200 day moving average is $51.46.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This is an increase from First Trust Managed Municipal ETF’s previous dividend of $0.14.

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.