Hedeker Wealth LLC Sells 4,216 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

Hedeker Wealth LLC trimmed its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 12.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,826 shares of the company’s stock after selling 4,216 shares during the quarter. Hedeker Wealth LLC’s holdings in First Trust Managed Municipal ETF were worth $1,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 2.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 17,616 shares of the company’s stock valued at $910,000 after purchasing an additional 427 shares during the period. Stock Yards Bank & Trust Co. boosted its stake in shares of First Trust Managed Municipal ETF by 37.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 40,557 shares of the company’s stock valued at $2,095,000 after purchasing an additional 11,110 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Trust Managed Municipal ETF by 4.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,259 shares of the company’s stock valued at $1,512,000 after purchasing an additional 1,332 shares during the period. Avestar Capital LLC boosted its stake in shares of First Trust Managed Municipal ETF by 17.7% during the fourth quarter. Avestar Capital LLC now owns 24,870 shares of the company’s stock valued at $1,285,000 after purchasing an additional 3,738 shares during the period. Finally, Keystone Financial Group raised its position in First Trust Managed Municipal ETF by 17.2% during the 4th quarter. Keystone Financial Group now owns 31,097 shares of the company’s stock valued at $1,607,000 after purchasing an additional 4,574 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

Shares of FMB stock traded up $0.02 during mid-day trading on Friday, hitting $51.59. The stock had a trading volume of 98,214 shares, compared to its average volume of 152,696. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $52.07. The firm’s 50-day moving average is $51.39 and its two-hundred day moving average is $51.25.

First Trust Managed Municipal ETF Announces Dividend

The company also recently declared a dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 27th were given a dividend of $0.137 per share. The ex-dividend date of this dividend was Thursday, June 27th.

First Trust Managed Municipal ETF 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.