Advance Capital Management Inc. Buys 12,306 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Advance Capital Management Inc. raised its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 16.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,093 shares of the company’s stock after buying an additional 12,306 shares during the quarter. First Trust Managed Municipal ETF comprises about 0.5% of Advance Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Advance Capital Management Inc.’s holdings in First Trust Managed Municipal ETF were worth $4,312,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA purchased a new stake in shares of First Trust Managed Municipal ETF during the first quarter valued at about $26,000. Glassman Wealth Services purchased a new position in shares of First Trust Managed Municipal ETF in the 1st quarter valued at approximately $28,000. IAG Wealth Partners LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 1st quarter valued at approximately $31,000. Harbor Investment Advisory LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 1st quarter valued at approximately $38,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of First Trust Managed Municipal ETF in the 1st quarter valued at approximately $110,000.

First Trust Managed Municipal ETF Stock Up 0.2 %

Shares of First Trust Managed Municipal ETF stock opened at $50.12 on Thursday. First Trust Managed Municipal ETF has a 52 week low of $48.07 and a 52 week high of $51.63. The company has a 50 day moving average price of $50.36 and a 200 day moving average price of $50.59.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.1275 per share. This represents a $1.53 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Tuesday, August 22nd.

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.