Fragasso Group Inc. Increases Stock Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

Fragasso Group Inc. grew its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 48.3% during the first quarter, Holdings Channel reports. The firm owned 8,900 shares of the company’s stock after purchasing an additional 2,900 shares during the period. Fragasso Group Inc.’s holdings in First Trust Managed Municipal ETF were worth $457,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. LPL Financial LLC grew its stake in First Trust Managed Municipal ETF by 13.6% during the 3rd quarter. LPL Financial LLC now owns 2,311,853 shares of the company’s stock worth $113,003,000 after buying an additional 277,430 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of First Trust Managed Municipal ETF by 14.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,042,465 shares of the company’s stock worth $105,523,000 after acquiring an additional 251,160 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of First Trust Managed Municipal ETF by 916.2% in the 4th 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 period. Miracle Mile Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 63.2% in the 4th 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 period. Finally, Sequoia Financial Advisors LLC raised its position in First Trust Managed Municipal ETF by 20.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 903,423 shares of the company’s stock valued at $46,675,000 after purchasing an additional 156,465 shares during the last quarter.

First Trust Managed Municipal ETF Stock Down 0.1 %

Shares of NASDAQ:FMB opened at $51.30 on Friday. The company has a 50-day simple moving average of $50.99 and a 200-day simple moving average of $51.25. First Trust Managed Municipal ETF has a one year low of $48.08 and a one year high of $51.77.

First Trust Managed Municipal ETF Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd were paid a $0.135 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, May 21st.

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.