RFG Advisory LLC Trims Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

RFG Advisory LLC reduced its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,743 shares of the company’s stock after selling 7,301 shares during the quarter. RFG Advisory LLC owned about 0.46% of First Trust Managed Municipal ETF worth $9,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FMB. Secure Asset Management LLC lifted its holdings in shares of First Trust Managed Municipal ETF by 16.2% during the third quarter. Secure Asset Management LLC now owns 27,364 shares of the company’s stock worth $1,422,000 after purchasing an additional 3,808 shares during the period. Naviter Wealth LLC lifted its stake in shares of First Trust Managed Municipal ETF by 98.0% in the 3rd quarter. Naviter Wealth LLC now owns 37,279 shares of the company’s stock valued at $1,937,000 after purchasing an additional 18,454 shares during the last quarter. Sentinel Pension Advisors Inc. lifted its stake in First Trust Managed Municipal ETF by 12.8% during the 3rd quarter. Sentinel Pension Advisors Inc. now owns 39,409 shares of the company’s stock worth $2,048,000 after acquiring an additional 4,462 shares in the last quarter. ERn Financial LLC raised its position in First Trust Managed Municipal ETF by 6.0% in the 3rd quarter. ERn Financial LLC now owns 265,943 shares of the company’s stock valued at $13,818,000 after purchasing an additional 15,010 shares in the last quarter. Finally, Prospect Financial Services LLC increased its holdings in shares of First Trust Managed Municipal ETF by 23.0% in the 3rd quarter. Prospect Financial Services LLC now owns 5,195 shares of the company’s stock valued at $270,000 after acquiring an additional 970 shares during the last quarter.

First Trust Managed Municipal ETF Stock Performance

NASDAQ:FMB opened at $51.78 on Friday. The stock’s 50 day moving average price is $51.79 and its 200 day moving average price is $51.36. First Trust Managed Municipal ETF has a 52-week low of $48.08 and a 52-week high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were issued a $0.139 dividend. This is a boost from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date was Thursday, September 26th.

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.