First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – What’s Next?

First Trust Managed Municipal ETF (NASDAQ:FMB) saw strong trading volume on Wednesday . 420,243 shares traded hands during trading, an increase of 106% from the previous session’s volume of 203,689 shares.The stock last traded at $50.81 and had previously closed at $50.61.

First Trust Managed Municipal ETF Stock Performance

The stock has a 50 day moving average price of $51.26 and a 200 day moving average price of $51.47.

First Trust Managed Municipal ETF Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.139 per share. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. increased its stake in shares of First Trust Managed Municipal ETF by 152.9% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,150 shares of the company’s stock worth $110,000 after purchasing an additional 1,300 shares during the last quarter. Christopher J. Hasenberg Inc bought a new position in First Trust Managed Municipal ETF during the third quarter valued at $166,000. Dopkins Wealth Management LLC purchased a new stake in First Trust Managed Municipal ETF in the third quarter worth $201,000. TrueWealth Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at $207,000. Finally, James Investment Research Inc. bought a new stake in shares of First Trust Managed Municipal ETF in the third quarter valued at $224,000.

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.