First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Strong Trading Volume – Still a Buy?

Shares of First Trust Managed Municipal ETF (NASDAQ:FMB) saw strong trading volume on Thursday . 421,729 shares traded hands during mid-day trading, an increase of 171% from the previous session’s volume of 155,424 shares.The stock last traded at $51.89 and had previously closed at $51.97.

First Trust Managed Municipal ETF Stock Performance

The stock has a 50 day moving average price of $51.53 and a 200-day moving average price of $51.46.

First Trust Managed Municipal ETF Announces Dividend

The business also recently declared a dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were issued a dividend of $0.139 per share. The ex-dividend date of this dividend was Thursday, November 21st.

Institutional Trading of First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GSG Advisors LLC increased its stake in shares of First Trust Managed Municipal ETF by 10.6% during the second quarter. GSG Advisors LLC now owns 22,429 shares of the company’s stock valued at $1,144,000 after buying an additional 2,143 shares during the period. Prospect Financial Services LLC purchased a new position in shares of First Trust Managed Municipal ETF during the second quarter valued at $216,000. Sequoia Financial Advisors LLC increased its stake in shares of First Trust Managed Municipal ETF by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 1,024,717 shares of the company’s stock valued at $52,322,000 after buying an additional 37,199 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of First Trust Managed Municipal ETF by 2.3% during the second quarter. Great Valley Advisor Group Inc. now owns 11,363 shares of the company’s stock valued at $580,000 after buying an additional 252 shares during the period. Finally, Steele Capital Management Inc. increased its stake in shares of First Trust Managed Municipal ETF by 13.2% during the second quarter. Steele Capital Management Inc. now owns 8,713 shares of the company’s stock valued at $445,000 after buying an additional 1,017 shares during the period.

About First Trust Managed Municipal ETF

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.