LPL Financial LLC Cuts Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

LPL Financial LLC decreased its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 4.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,345,040 shares of the company’s stock after selling 108,096 shares during the period. LPL Financial LLC owned about 0.06% of First Trust Managed Municipal ETF worth $119,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of First Trust Managed Municipal ETF by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,042,465 shares of the company’s stock worth $105,523,000 after acquiring an additional 251,160 shares in the last quarter. Avantax Planning Partners Inc. raised its holdings in First Trust Managed Municipal ETF by 13.4% in the fourth quarter. Avantax Planning Partners Inc. now owns 1,028,945 shares of the company’s stock worth $53,160,000 after purchasing an additional 121,339 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of First Trust Managed Municipal ETF by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 1,024,717 shares of the company’s stock valued at $52,322,000 after buying an additional 37,199 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of First Trust Managed Municipal ETF by 2.7% in the 1st quarter. Congress Wealth Management LLC DE now owns 693,046 shares of the company’s stock valued at $35,595,000 after buying an additional 17,916 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in shares of First Trust Managed Municipal ETF by 44.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 524,971 shares of the company’s stock worth $26,963,000 after buying an additional 161,642 shares during the last quarter.

First Trust Managed Municipal ETF Stock Performance

NASDAQ FMB opened at $51.94 on Friday. First Trust Managed Municipal ETF has a 52 week low of $48.08 and a 52 week high of $52.07. The company has a 50 day moving average price of $51.57 and a 200 day moving average price of $51.29.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.138 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase 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.