Wealth Management Resources Inc. Cuts Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

Wealth Management Resources Inc. reduced its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 45.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,099 shares of the company’s stock after selling 37,022 shares during the quarter. First Trust Managed Municipal ETF comprises approximately 1.0% of Wealth Management Resources Inc.’s holdings, making the stock its 21st largest position. Wealth Management Resources Inc. owned about 0.11% of First Trust Managed Municipal ETF worth $2,265,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FMB. Truist Financial Corp grew its holdings in shares of First Trust Managed Municipal ETF by 6.2% in the third quarter. Truist Financial Corp now owns 265,005 shares of the company’s stock valued at $12,953,000 after purchasing an additional 15,573 shares in the last quarter. VitalStone Financial LLC grew its holdings in shares of First Trust Managed Municipal ETF by 60.2% in the third quarter. VitalStone Financial LLC now owns 2,787 shares of the company’s stock valued at $137,000 after purchasing an additional 1,047 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of First Trust Managed Municipal ETF by 0.6% in the third quarter. Westside Investment Management Inc. now owns 65,550 shares of the company’s stock valued at $3,204,000 after purchasing an additional 400 shares in the last quarter. PFS Partners LLC grew its holdings in shares of First Trust Managed Municipal ETF by 0.4% in the third quarter. PFS Partners LLC now owns 222,567 shares of the company’s stock valued at $10,879,000 after purchasing an additional 893 shares in the last quarter. Finally, Fragasso Group Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the third quarter valued at $293,000.

First Trust Managed Municipal ETF Trading Up 0.3 %

Shares of FMB stock traded up $0.13 on Thursday, reaching $51.25. The company’s stock had a trading volume of 69,509 shares, compared to its average volume of 154,808. The stock’s fifty day simple moving average is $51.03 and its 200-day simple moving average is $51.26. First Trust Managed Municipal ETF has a 1 year low of $48.08 and a 1 year high of $51.77.

First Trust Managed Municipal ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were paid a dividend of $0.137 per share. The ex-dividend date of this dividend was Thursday, June 27th.

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.