First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Unusually-High Trading Volume – What’s Next?

First Trust Managed Municipal ETF (NASDAQ:FMB) saw unusually-strong trading volume on Wednesday . Approximately 420,243 shares changed hands during trading, an increase of 106% from the previous session’s volume of 203,689 shares.The stock last traded at $50.81 and had previously closed at $50.61.

First Trust Managed Municipal ETF Price Performance

The company’s 50-day moving average is $51.26 and its two-hundred day moving average is $51.47.

First Trust Managed Municipal ETF Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.139 dividend. The ex-dividend date was Friday, December 13th.

Institutional Trading of First Trust Managed Municipal ETF

A number of hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC bought a new position in First Trust Managed Municipal ETF in the third quarter valued at $13,088,000. LPL Financial LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 6.9% in the 3rd quarter. LPL Financial LLC now owns 2,507,371 shares of the company’s stock worth $130,283,000 after purchasing an additional 162,331 shares in the last quarter. Brady Martz Wealth Solutions LLC bought a new position in shares of First Trust Managed Municipal ETF during the 4th quarter valued at about $6,440,000. International Assets Investment Management LLC increased its position in shares of First Trust Managed Municipal ETF by 5,096.0% during the 3rd quarter. International Assets Investment Management LLC now owns 114,208 shares of the company’s stock valued at $5,934,000 after purchasing an additional 112,010 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of First Trust Managed Municipal ETF by 22.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock valued at $31,169,000 after buying an additional 109,001 shares in the last quarter.

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.