First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Significant Decline in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 2,294 shares, a decline of 83.3% from the August 31st total of 13,697 shares. Based on an average daily volume of 367,260 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

First Trust Managed Municipal ETF Price Performance

First Trust Managed Municipal ETF stock traded down $0.16 on Friday, reaching $48.09. The company’s stock had a trading volume of 452,510 shares, compared to its average volume of 178,570. The business’s fifty day moving average price is $49.93 and its 200 day moving average price is $50.71. First Trust Managed Municipal ETF has a twelve month low of $47.96 and a twelve month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be issued a $0.1590 dividend. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, September 24th.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in 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 acquiring an additional 221,955 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of First Trust Managed Municipal ETF by 16.1% during the second quarter. NewEdge Advisors LLC now owns 497,684 shares of the company’s stock worth $25,565,000 after purchasing an additional 68,875 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of First Trust Managed Municipal ETF by 11.3% during the first quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock valued at $23,727,000 after purchasing an additional 47,710 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of First Trust Managed Municipal ETF by 2.1% during the first quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock valued at $21,181,000 after purchasing an additional 8,583 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of First Trust Managed Municipal ETF by 6.6% in the second quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock valued at $17,732,000 after purchasing an additional 21,260 shares in the last quarter.

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.