First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Growth in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 59,412 shares, a growth of 86.2% from the May 14th total of 31,906 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 155,856 shares, the short-interest ratio is presently 0.4 days.

First Trust Managed Municipal ETF Price Performance

Shares of NASDAQ FMB traded up $0.02 during mid-day trading on Tuesday, hitting $51.31. The company had a trading volume of 131,799 shares, compared to its average volume of 150,061. The firm has a 50-day simple moving average of $51.10 and a two-hundred day simple moving average of $51.23. First Trust Managed Municipal ETF has a one year low of $49.28 and a one year high of $52.03.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were issued a dividend of $0.156 per share. The ex-dividend date was Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 3.6%.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of FMB. TrueWealth Financial Partners bought a new position in First Trust Managed Municipal ETF during the fourth quarter worth about $12,720,000. Bank of America Corp DE grew its holdings in First Trust Managed Municipal ETF by 12.2% during 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 period. Jane Street Group LLC grew its holdings in First Trust Managed Municipal ETF by 2,668.1% during the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock worth $9,557,000 after purchasing an additional 182,683 shares during the period. LPL Financial LLC grew its holdings in First Trust Managed Municipal ETF by 8.5% during the fourth quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock worth $118,046,000 after purchasing an additional 181,458 shares during the period. Finally, Composition Wealth LLC grew its holdings in First Trust Managed Municipal ETF by 8.7% during the fourth quarter. Composition Wealth LLC now owns 1,163,045 shares of the company’s stock worth $59,472,000 after purchasing an additional 92,945 shares during the period.

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.