First Trust Managed Municipal ETF (NASDAQ:FMB) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 28.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,950 shares of the company’s stock after selling 10,495 shares during the quarter. Cypress Capital Group owned about 0.07% of First Trust Managed Municipal ETF worth $1,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. DHJJ Financial Advisors Ltd. boosted its holdings in shares of 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 valued at $40,000 after acquiring an additional 430 shares during the period. Fifth Third Bancorp acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at approximately $51,000. Jones Financial Companies Lllp acquired a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at approximately $52,000. IAG Wealth Partners LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at approximately $53,000. Finally, Tidemark LLC acquired a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at approximately $76,000.

First Trust Managed Municipal ETF Price Performance

Shares of FMB stock traded up $0.17 during trading hours on Friday, hitting $51.67. The stock had a trading volume of 154,787 shares, compared to its average volume of 152,718. First Trust Managed Municipal ETF has a twelve month low of $48.08 and a twelve month high of $52.07. The stock’s 50 day moving average is $51.43 and its 200 day moving average is $51.26.

First Trust Managed Municipal ETF Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.138 per share. The ex-dividend date is Wednesday, August 21st. This is a boost from First Trust Managed Municipal ETF’s previous dividend of $0.14.

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.