Fragasso Financial Advisors Inc Reduces Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

Fragasso Financial Advisors Inc cut its holdings in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,900 shares of the company’s stock after selling 2,323 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in First Trust Managed Municipal ETF were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FMB. Christopher J. Hasenberg Inc acquired a new stake in First Trust Managed Municipal ETF during the third quarter worth about $166,000. Dopkins Wealth Management LLC purchased a new stake in First Trust Managed Municipal ETF in the 3rd quarter worth approximately $201,000. James Investment Research Inc. acquired a new stake in shares of First Trust Managed Municipal ETF during the 3rd quarter worth approximately $224,000. Prospect Financial Services LLC grew its stake in shares of First Trust Managed Municipal ETF by 23.0% during the 3rd quarter. Prospect Financial Services LLC now owns 5,195 shares of the company’s stock worth $270,000 after purchasing an additional 970 shares during the period. Finally, Tyler Stone Wealth Management increased its holdings in shares of First Trust Managed Municipal ETF by 101.7% during the 3rd quarter. Tyler Stone Wealth Management now owns 5,251 shares of the company’s stock valued at $273,000 after purchasing an additional 2,647 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ FMB opened at $50.67 on Tuesday. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $52.13. The company’s fifty day moving average price is $51.28 and its 200 day moving average price is $51.48.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.139 per share. The ex-dividend date of this dividend was Friday, December 13th.

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.