Gladstone Institutional Advisory LLC Trims Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

Gladstone Institutional Advisory LLC trimmed its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,667 shares of the company’s stock after selling 416 shares during the period. Gladstone Institutional Advisory LLC’s holdings in First Trust Managed Municipal ETF were worth $493,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Hedeker Wealth LLC grew its stake in First Trust Managed Municipal ETF by 53.3% during the 4th quarter. Hedeker Wealth LLC now owns 53,262 shares of the company’s stock worth $2,717,000 after purchasing an additional 18,519 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in shares of First Trust Managed Municipal ETF during the fourth quarter worth about $249,000. JPMorgan Chase & Co. increased its stake in shares of First Trust Managed Municipal ETF by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock worth $21,896,000 after buying an additional 25,002 shares during the period. Fifth Third Bancorp raised its holdings in First Trust Managed Municipal ETF by 177.8% in the fourth quarter. Fifth Third Bancorp now owns 2,778 shares of the company’s stock valued at $142,000 after acquiring an additional 1,778 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in First Trust Managed Municipal ETF in the third quarter worth approximately $1,555,000.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ:FMB opened at $51.20 on Friday. The company’s 50 day moving average is $51.06 and its two-hundred day moving average is $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 Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This is a boost from First Trust Managed Municipal ETF’s previous dividend of $0.14.

First Trust Managed Municipal ETF Company Profile

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.