First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Down 76.7% in August

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 13,697 shares, a decrease of 76.7% from the August 15th total of 58,696 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 135,688 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several large investors have recently bought and sold shares of the company. TrueWealth Financial Partners bought a new stake in First Trust Managed Municipal ETF during the fourth quarter valued at $12,720,000. Bank of America Corp DE lifted its stake in shares of First Trust Managed Municipal ETF by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock valued at $103,691,000 after purchasing an additional 221,955 shares during the period. Jane Street Group LLC lifted its stake in shares of First Trust Managed Municipal ETF by 2,668.1% in the 1st quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after purchasing an additional 182,683 shares during the period. LPL Financial LLC grew its stake in First Trust Managed Municipal ETF by 8.5% during the fourth quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock worth $118,046,000 after purchasing an additional 181,458 shares during the period. Finally, Fifth Third Bancorp increased its holdings in First Trust Managed Municipal ETF by 3,413.5% in the first quarter. Fifth Third Bancorp now owns 86,924 shares of the company’s stock worth $4,404,000 after purchasing an additional 84,450 shares in the last quarter.

First Trust Managed Municipal ETF Trading Up 0.2%

Shares of FMB traded up $0.08 during mid-day trading on Friday, reaching $49.19. The company had a trading volume of 738,576 shares, compared to its average volume of 156,644. The company’s 50 day simple moving average is $50.41 and its 200 day simple moving average is $50.92. First Trust Managed Municipal ETF has a 1-year low of $49.03 and a 1-year high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a dividend of $0.158 per share. The ex-dividend date was Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 3.9%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.16.

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.