First Trust Managed Municipal ETF Sets $0.159 October Distribution

First Trust Managed Municipal ETF (FMB) set a $0.159-per-share October distribution, matching its September payout, with payment scheduled for Oct. 30 and Oct. 21 designated as the expected ex-dividend and record dates.

The fund’s primary objective is current income exempt from regular federal income taxes, with long-term capital appreciation as a secondary objective. In normal conditions, municipal debt with interest exempt from regular federal income tax makes up at least 80% of the fund’s net assets.

The distribution is classified as ordinary income per share. Ordinary distributions may include realized short-term capital gains or return of capital, and final tax treatment for the year is determined after year-end.