Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Grows By 440.3%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 119,400 shares, a growth of 440.3% from the March 31st total of 22,100 shares. Based on an average trading volume of 233,200 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s shares are sold short.

First Trust Managed Municipal ETF Stock Up 0.2 %

Shares of NASDAQ FMB traded up $0.08 during trading hours on Monday, hitting $49.76. The company’s stock had a trading volume of 100,208 shares, compared to its average volume of 185,505. First Trust Managed Municipal ETF has a 12 month low of $48.10 and a 12 month high of $52.13. The business has a 50-day simple moving average of $50.46 and a 200-day simple moving average of $50.96.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.141 per share. The ex-dividend date is Tuesday, April 22nd. This is a boost from First Trust Managed Municipal ETF’s previous monthly dividend of $0.14. This represents a $1.69 annualized dividend and a dividend yield of 3.40%.

Institutional Trading of First Trust Managed Municipal ETF

Several large investors have recently added to or reduced their stakes in FMB. Raymond James Financial Inc. bought a new stake in First Trust Managed Municipal ETF during the 4th quarter valued at approximately $58,677,000. Miracle Mile Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 3.1% during the first quarter. Miracle Mile Advisors LLC now owns 649,521 shares of the company’s stock valued at $32,750,000 after acquiring an additional 19,690 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of First Trust Managed Municipal ETF by 0.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 604,941 shares of the company’s stock worth $30,858,000 after purchasing an additional 2,306 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of First Trust Managed Municipal ETF by 4.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 436,357 shares of the company’s stock worth $22,259,000 after purchasing an additional 17,192 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of First Trust Managed Municipal ETF by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 421,410 shares of the company’s stock valued at $21,896,000 after purchasing an additional 25,002 shares in 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.