Cypress Capital Group Increases Stock Position in First Trust Managed Municipal ETF $FMB

Cypress Capital Group raised its position in shares of First Trust Managed Municipal ETF (NASDAQ:FMB) by 5.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,150 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Cypress Capital Group’s holdings in First Trust Managed Municipal ETF were worth $1,751,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new position in First Trust Managed Municipal ETF in the 1st quarter worth $58,000. IMG Wealth Management Inc. bought a new position in First Trust Managed Municipal ETF in the 1st quarter worth $65,000. GAMMA Investing LLC raised its holdings in First Trust Managed Municipal ETF by 4,941.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $79,000 after purchasing an additional 1,532 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in First Trust Managed Municipal ETF in the 1st quarter worth $113,000. Finally, Pinnacle Bancorp Inc. raised its holdings in First Trust Managed Municipal ETF by 18.7% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 2,552 shares of the company’s stock worth $127,000 after purchasing an additional 402 shares in the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of NASDAQ FMB opened at $50.97 on Monday. First Trust Managed Municipal ETF has a 12 month low of $48.10 and a 12 month high of $51.99. The firm has a fifty day simple moving average of $50.27 and a two-hundred day simple moving average of $49.91.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were paid a $0.146 dividend. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, September 25th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14.

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.