Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Grows By 654.1%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 64,100 shares, an increase of 654.1% from the February 28th total of 8,500 shares. Based on an average daily volume of 205,500 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in First Trust Managed Municipal ETF in the fourth quarter worth $58,677,000. Independent Advisor Alliance bought a new stake in shares of First Trust Managed Municipal ETF during the 4th quarter worth $14,829,000. Focus Partners Advisor Solutions LLC boosted its holdings in shares of First Trust Managed Municipal ETF by 620.3% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 150,146 shares of the company’s stock worth $7,659,000 after buying an additional 129,301 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new position in First Trust Managed Municipal ETF during the fourth quarter valued at about $6,440,000. Finally, Larson Financial Group LLC increased its holdings in First Trust Managed Municipal ETF by 44.7% during the fourth quarter. Larson Financial Group LLC now owns 276,049 shares of the company’s stock worth $14,081,000 after buying an additional 85,293 shares during the last quarter.

First Trust Managed Municipal ETF Stock Down 0.5 %

First Trust Managed Municipal ETF stock traded down $0.27 during midday trading on Thursday, hitting $50.18. 66,723 shares of the stock were exchanged, compared to its average volume of 166,822. First Trust Managed Municipal ETF has a 52-week low of $48.10 and a 52-week high of $52.13. The business’s 50-day moving average price is $51.06 and its 200-day moving average price is $51.32.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a $0.14 dividend. The ex-dividend date was Friday, February 21st.

First Trust Managed Municipal ETF Company 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.