First Trust Managed Municipal ETF (NASDAQ:FMB) Shares Shorted: Short Interest Up 581.2% in September

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC acquired a new position in First Trust Managed Municipal ETF in the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC acquired a new stake in First Trust Managed Municipal ETF during the first quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new stake in First Trust Managed Municipal ETF during the first quarter worth approximately $53,000. Legacy Wealth Managment LLC ID raised its holdings in First Trust Managed Municipal ETF by 339.0% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,374 shares of the company’s stock worth $70,000 after purchasing an additional 1,061 shares in the last quarter. Finally, IMG Wealth Management Inc. lifted its position in shares of First Trust Managed Municipal ETF by 96.2% during the 1st quarter. IMG Wealth Management Inc. now owns 2,531 shares of the company’s stock worth $128,000 after buying an additional 1,241 shares during the last quarter.

First Trust Managed Municipal ETF Stock Up 0.3%

First Trust Managed Municipal ETF stock traded up $0.16 during midday trading on Friday, reaching $48.01. The company’s stock had a trading volume of 315,840 shares, compared to its average volume of 206,045. First Trust Managed Municipal ETF has a fifty-two week low of $47.38 and a fifty-two week high of $52.03. The business has a 50-day simple moving average of $49.42 and a 200-day simple moving average of $50.47.

First Trust Managed Municipal ETF Increases Dividend

The firm also recently disclosed 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 represents a $1.91 annualized dividend and a dividend yield of 4.0%. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580.

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.