Miracle Mile Advisors LLC Has $32.13 Million Stake in First Trust Managed Municipal ETF (NASDAQ:FMB)

Miracle Mile Advisors LLC raised its stake in First Trust Managed Municipal ETF (NASDAQ:FMB) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 629,831 shares of the company’s stock after buying an additional 29,957 shares during the quarter. Miracle Mile Advisors LLC’s holdings in First Trust Managed Municipal ETF were worth $32,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FMB. Meeder Advisory Services Inc. purchased a new stake in shares of First Trust Managed Municipal ETF in the second quarter valued at about $341,000. Envestnet Asset Management Inc. increased its stake in First Trust Managed Municipal ETF by 14.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 403,320 shares of the company’s stock valued at $20,594,000 after buying an additional 50,146 shares during the last quarter. GM Advisory Group LLC increased its stake in First Trust Managed Municipal ETF by 21.4% in the 2nd quarter. GM Advisory Group LLC now owns 165,632 shares of the company’s stock valued at $8,457,000 after buying an additional 29,187 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of First Trust Managed Municipal ETF by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,916 shares of the company’s stock worth $966,000 after buying an additional 793 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of First Trust Managed Municipal ETF by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 236,657 shares of the company’s stock worth $12,084,000 after buying an additional 66,762 shares during the last quarter.

First Trust Managed Municipal ETF Stock Performance

Shares of FMB traded down $0.08 on Monday, reaching $50.67. 400,476 shares of the company’s stock traded hands, compared to its average volume of 211,711. The stock’s 50 day simple moving average is $51.29 and its two-hundred day simple moving average is $51.49. First Trust Managed Municipal ETF has a 52-week low of $48.10 and a 52-week high of $52.13.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.139 per share. The ex-dividend date was Friday, December 13th.

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.