Elios Financial Group Inc. Invests $3.60 Million in First Trust Managed Municipal ETF (NASDAQ:FMB)

Elios Financial Group Inc. bought a new stake in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 69,316 shares of the company’s stock, valued at approximately $3,602,000. First Trust Managed Municipal ETF comprises approximately 1.7% of Elios Financial Group Inc.’s investment portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in First Trust Managed Municipal ETF in the 1st quarter worth $15,269,000. Comerica Bank raised its stake in First Trust Managed Municipal ETF by 10.6% in the first quarter. Comerica Bank now owns 52,993 shares of the company’s stock worth $2,722,000 after buying an additional 5,097 shares in the last quarter. Atria Investments Inc lifted its holdings in First Trust Managed Municipal ETF by 5.7% in the first quarter. Atria Investments Inc now owns 100,508 shares of the company’s stock worth $5,162,000 after buying an additional 5,418 shares during the period. ARQ Wealth Advisors LLC bought a new stake in First Trust Managed Municipal ETF during the 1st quarter valued at approximately $6,428,000. Finally, Cetera Investment Advisers grew its holdings in shares of First Trust Managed Municipal ETF by 246.7% during the 1st quarter. Cetera Investment Advisers now owns 252,562 shares of the company’s stock worth $12,972,000 after acquiring an additional 179,710 shares during the period.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ:FMB opened at $51.53 on Tuesday. The stock has a 50 day moving average price of $51.57 and a 200-day moving average price of $51.43. First Trust Managed Municipal ETF has a 52-week low of $48.10 and a 52-week high of $52.13.

First Trust Managed Municipal ETF Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be issued a $0.139 dividend. The ex-dividend date is Thursday, November 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.