Valmark Advisers Inc. Cuts Stock Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

Valmark Advisers Inc. lowered its stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 4.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,128 shares of the company’s stock after selling 399 shares during the quarter. Valmark Advisers Inc.’s holdings in First Trust Managed Municipal ETF were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FMB. DHJJ Financial Advisors Ltd. lifted its position in shares of First Trust Managed Municipal ETF by 119.4% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock worth $40,000 after buying an additional 430 shares in the last quarter. Fifth Third Bancorp bought a new stake in First Trust Managed Municipal ETF during the second quarter worth $51,000. Jones Financial Companies Lllp purchased a new position in First Trust Managed Municipal ETF in the fourth quarter worth $52,000. IAG Wealth Partners LLC purchased a new position in First Trust Managed Municipal ETF in the second quarter worth $53,000. Finally, WR Wealth Planners LLC bought a new position in First Trust Managed Municipal ETF in the 2nd quarter valued at $56,000.

First Trust Managed Municipal ETF Trading Down 0.1 %

NASDAQ FMB opened at $51.54 on Tuesday. The business’s fifty day moving average is $51.45 and its 200-day moving average is $51.27. First Trust Managed Municipal ETF has a one year low of $48.08 and a one year high of $52.07.

First Trust Managed Municipal ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were given a $0.138 dividend. This is a positive change from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date of this dividend was Wednesday, August 21st.

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.