First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Should You Buy?

First Trust Managed Municipal ETF (NASDAQ:FMB) shares saw strong trading volume on Wednesday . 377,492 shares traded hands during trading, an increase of 144% from the previous session’s volume of 154,676 shares.The stock last traded at $51.15 and had previously closed at $51.13.

First Trust Managed Municipal ETF Stock Performance

The stock’s 50 day simple moving average is $51.73 and its 200 day simple moving average is $51.38.

First Trust Managed Municipal ETF Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd will be paid a $0.139 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Several institutional investors have recently bought and sold shares of FMB. DHJJ Financial Advisors Ltd. increased its position in First Trust Managed Municipal ETF by 119.4% in the second quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock worth $40,000 after buying an additional 430 shares during the last quarter. Fifth Third Bancorp purchased a new stake in First Trust Managed Municipal ETF in the 2nd quarter worth about $51,000. IAG Wealth Partners LLC bought a new stake in First Trust Managed Municipal ETF in the 2nd quarter valued at about $53,000. WR Wealth Planners LLC purchased a new stake in First Trust Managed Municipal ETF during the second quarter valued at about $56,000. Finally, International Assets Investment Management LLC bought a new position in First Trust Managed Municipal ETF during the second quarter worth about $112,000.

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.