First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Short Interest Drops 35.0%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 10,162 shares, a drop of 35.0% from the September 30th total of 15,626 shares. Based on an average daily trading volume, of 658,038 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

First Trust Managed Municipal ETF Trading Up 0.1%

Shares of First Trust Managed Municipal ETF stock opened at $49.45 on Wednesday. The business’s 50 day moving average price is $48.89 and its 200 day moving average price is $50.57. First Trust Managed Municipal ETF has a one year low of $47.38 and a one year high of $52.03.

First Trust Managed Municipal ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 21st were paid a $0.1590 dividend. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.9%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised 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 acquiring an additional 221,955 shares during the period. Avantax Planning Partners Inc. acquired a new position in shares of First Trust Managed Municipal ETF in the 3rd quarter worth approximately $46,615,000. NewEdge Advisors LLC boosted its position in shares of First Trust Managed Municipal ETF by 16.1% during the 2nd 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 during the period. Cetera Investment Advisers boosted its position in shares of 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 worth $21,181,000 after purchasing an additional 8,583 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in First Trust Managed Municipal ETF by 6.6% in the 2nd 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 during 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.