First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Short Interest Jumps 581.2%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 15,626 shares, an increase of 581.2% from the September 15th total of 2,294 shares. Based on an average daily volume of 565,142 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

First Trust Managed Municipal ETF Price Performance

NASDAQ FMB opened at $48.01 on Friday. The company has a fifty day simple moving average of $49.42 and a 200 day simple moving average of $50.47. First Trust Managed Municipal ETF has a 12-month low of $47.38 and a 12-month high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.1590 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 annualized dividend and a dividend yield of 4.0%.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in shares of First Trust Managed Municipal ETF by 12.2% in the first quarter. Bank of America Corp DE now owns 2,046,794 shares of the company’s stock worth $103,691,000 after purchasing an additional 221,955 shares during the last quarter. NewEdge Advisors LLC grew its holdings in 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 buying an additional 68,875 shares in the last quarter. Janney Montgomery Scott LLC raised its position in First Trust Managed Municipal ETF by 11.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 468,362 shares of the company’s stock valued at $23,727,000 after buying an additional 47,710 shares during the last quarter. Cetera Investment Advisers lifted its stake in First Trust Managed Municipal ETF by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 418,100 shares of the company’s stock valued at $21,181,000 after acquiring an additional 8,583 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in First Trust Managed Municipal ETF by 6.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 345,208 shares of the company’s stock worth $17,732,000 after acquiring an additional 21,260 shares during the last quarter.

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.