First Trust Managed Municipal ETF (NASDAQ:FMB) Shares Gap Down – Here’s What Happened

First Trust Managed Municipal ETF (NASDAQ:FMB) shares gapped down before the market opened on Thursday . The stock had previously closed at $51.02, but opened at $48.10. First Trust Managed Municipal ETF shares last traded at $51.00, with a volume of 41,171 shares trading hands.

First Trust Managed Municipal ETF Price Performance

The company’s 50 day moving average is $51.75 and its two-hundred day moving average is $51.37.

First Trust Managed Municipal ETF Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 22nd will be paid a $0.139 dividend. The ex-dividend date is Tuesday, October 22nd.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of institutional investors have recently bought and sold shares of FMB. DHJJ Financial Advisors Ltd. boosted its holdings in First Trust Managed Municipal ETF by 119.4% during the second quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock valued at $40,000 after purchasing an additional 430 shares in the last quarter. Fifth Third Bancorp acquired a new stake in First Trust Managed Municipal ETF in the 2nd quarter valued at $51,000. IAG Wealth Partners LLC bought a new stake in First Trust Managed Municipal ETF in the second quarter valued at $53,000. WR Wealth Planners LLC acquired a new position in First Trust Managed Municipal ETF during the second quarter worth $56,000. Finally, International Assets Investment Management LLC bought a new position in shares of First Trust Managed Municipal ETF during the second quarter valued at $112,000.

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.