Kovack Advisors Inc. Has $366,000 Holdings in First Trust Managed Municipal ETF (NASDAQ:FMB)

Kovack Advisors Inc. trimmed its holdings in First Trust Managed Municipal ETF (NASDAQ:FMB) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,050 shares of the company’s stock after selling 700 shares during the period. Kovack Advisors Inc.’s holdings in First Trust Managed Municipal ETF were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FMB. DHJJ Financial Advisors Ltd. raised its holdings in First Trust Managed Municipal ETF by 119.4% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock valued at $40,000 after acquiring an additional 430 shares in the last quarter. Fifth Third Bancorp acquired a new stake in First Trust Managed Municipal ETF during the second quarter worth about $51,000. IAG Wealth Partners LLC bought a new position in First Trust Managed Municipal ETF in the 2nd quarter valued at about $53,000. WR Wealth Planners LLC acquired a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at approximately $56,000. Finally, International Assets Investment Management LLC acquired a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at approximately $112,000.

First Trust Managed Municipal ETF Trading Up 0.1 %

NASDAQ FMB opened at $51.32 on Friday. The firm’s 50 day simple moving average is $51.65 and its 200 day simple moving average is $51.40. First Trust Managed Municipal ETF has a 1 year low of $48.10 and a 1 year high of $52.13.

First Trust Managed Municipal ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 22nd were paid a $0.139 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd.

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.