Sequoia Financial Advisors LLC Sells 670,122 Shares of First Trust Managed Municipal ETF (NASDAQ:FMB)

by · The Cerbat Gem

Sequoia Financial Advisors LLC trimmed its position in First Trust Managed Municipal ETF (NASDAQ:FMB – Free Report) by 65.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,595 shares of the company’s stock after selling 670,122 shares during the quarter. Sequoia Financial Advisors LLC owned 0.90% of First Trust Managed Municipal ETF worth $18,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Congress Wealth Management LLC DE raised its stake in First Trust Managed Municipal ETF by 2.7% in the first quarter. Congress Wealth Management LLC DE now owns 693,046 shares of the company’s stock worth $35,595,000 after buying an additional 17,916 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of First Trust Managed Municipal ETF by 22.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 599,874 shares of the company’s stock worth $31,169,000 after acquiring an additional 109,001 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of First Trust Managed Municipal ETF by 44.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 524,971 shares of the company’s stock worth $26,963,000 after purchasing an additional 161,642 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in First Trust Managed Municipal ETF by 14.2% during the second quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock valued at $20,594,000 after purchasing an additional 50,146 shares in the last quarter. Finally, Raymond James & Associates boosted its position in First Trust Managed Municipal ETF by 7.4% during the second quarter. Raymond James & Associates now owns 381,767 shares of the company’s stock valued at $19,493,000 after purchasing an additional 26,177 shares in the last quarter.

First Trust Managed Municipal ETF Trading Down 0.5 %

NASDAQ:FMB traded down $0.24 during midday trading on Tuesday, reaching $51.34. 66,267 shares of the stock traded hands, compared to its average volume of 153,711. The business has a 50-day moving average of $51.79 and a two-hundred day moving average of $51.37. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.139 per share. This is a positive change from First Trust Managed Municipal ETF’s previous dividend of $0.14. The ex-dividend date was Thursday, September 26th.

First Trust Managed Municipal ETF Company Profile

(Free Report)

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.

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