Naviter Wealth LLC Invests $881,000 in First Trust Managed Municipal ETF (NASDAQ:FMB)

Naviter Wealth LLC bought a new position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) during the 1st quarter, Holdings Channel reports. The institutional investor bought 17,158 shares of the company’s stock, valued at approximately $881,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in First Trust Managed Municipal ETF during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp purchased a new position in shares of First Trust Managed Municipal ETF in the 4th quarter valued at $52,000. AdvisorNet Financial Inc raised its stake in First Trust Managed Municipal ETF by 26.9% during the 4th quarter. AdvisorNet Financial Inc now owns 1,450 shares of the company’s stock worth $75,000 after acquiring an additional 307 shares in the last quarter. Tidemark LLC purchased a new stake in First Trust Managed Municipal ETF in the fourth quarter valued at $76,000. Finally, NBC Securities Inc. boosted its stake in First Trust Managed Municipal ETF by 71.4% in the fourth quarter. NBC Securities Inc. now owns 2,575 shares of the company’s stock valued at $133,000 after acquiring an additional 1,073 shares in the last quarter.

First Trust Managed Municipal ETF Trading Up 0.2 %

FMB opened at $51.11 on Wednesday. First Trust Managed Municipal ETF has a one year low of $48.08 and a one year high of $51.77. The business’s 50-day simple moving average is $51.02 and its 200-day simple moving average is $51.26.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 27th were issued a $0.137 dividend. The ex-dividend date of this dividend was Thursday, June 27th.

First Trust Managed Municipal ETF 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.