Verus Capital Partners LLC increased its stake in First Trust Managed Municipal ETF (NASDAQ:FMB – Get Rating) by 476.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 149,310 shares of the company's stock after acquiring an additional 123,429 shares during the period. First Trust Managed Municipal ETF accounts for approximately 1.4% of Verus Capital Partners LLC's holdings, making the stock its 13th largest holding. Verus Capital Partners LLC's holdings in First Trust Managed Municipal ETF were worth $7,274,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. UBS Group AG boosted its holdings in shares of First Trust Managed Municipal ETF by 15.3% in the first quarter. UBS Group AG now owns 2,101,471 shares of the company's stock valued at $111,504,000 after acquiring an additional 279,580 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of First Trust Managed Municipal ETF by 1.4% in the first quarter. Royal Bank of Canada now owns 769,197 shares of the company's stock valued at $40,814,000 after acquiring an additional 10,869 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 4.2% in the third quarter. Sequoia Financial Advisors LLC now owns 580,941 shares of the company's stock valued at $28,304,000 after acquiring an additional 23,578 shares in the last quarter. Congress Wealth Management LLC DE boosted its holdings in First Trust Managed Municipal ETF by 0.4% during the third quarter. Congress Wealth Management LLC DE now owns 502,356 shares of the company's stock worth $24,475,000 after buying an additional 1,959 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in First Trust Managed Municipal ETF during the first quarter worth approximately $22,555,000.
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First Trust Managed Municipal ETF Stock Performance
Shares of NASDAQ:FMB opened at $50.52 on Friday. First Trust Managed Municipal ETF has a 1-year low of $48.07 and a 1-year high of $54.21. The company has a 50 day moving average price of $50.86 and a 200 day moving average price of $50.11.
First Trust Managed Municipal ETF Increases Dividend
The firm also recently announced a monthly dividend, which was paid on Tuesday, February 28th. Investors of record on Thursday, February 23rd were issued a dividend of $0.128 per share. This represents a $1.54 dividend on an annualized basis and a yield of 3.04%. This is a boost from First Trust Managed Municipal ETF's previous monthly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, February 22nd.
First Trust Managed Municipal ETF Profile
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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.
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