First Trust Managed Municipal ETF (NASDAQ:FMB) Stock Short Interest Declines 83.3%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 2,294 shares, a decline of 83.3% from the August 31st total of 13,697 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 367,260 shares, the short-interest ratio is currently 0.0 days.

First Trust Managed Municipal ETF Stock Down 0.7%

NASDAQ:FMB opened at $48.25 on Friday. The firm’s fifty day simple moving average is $49.99 and its 200-day simple moving average is $50.73. First Trust Managed Municipal ETF has a fifty-two week low of $48.17 and a fifty-two week high of $52.03.

First Trust Managed Municipal ETF Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be given a dividend of $0.1590 per share. The ex-dividend date is Thursday, September 24th. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 annualized dividend and a yield of 4.0%.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FMB. True Blue Financial LLC grew its position in shares of First Trust Managed Municipal ETF by 8.7% in the first quarter. True Blue Financial LLC now owns 269,428 shares of the company’s stock valued at $13,649,000 after purchasing an additional 21,459 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of First Trust Managed Municipal ETF by 124.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,527 shares of the company’s stock worth $2,390,000 after purchasing an additional 25,824 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in First Trust Managed Municipal ETF in the 4th quarter valued at approximately $675,000. Blackhawk Capital Partners LLC grew its holdings in First Trust Managed Municipal ETF by 53.1% during the 1st quarter. Blackhawk Capital Partners LLC now owns 114,133 shares of the company’s stock valued at $5,782,000 after buying an additional 39,581 shares during the last quarter. Finally, Waverly Advisors LLC grew its holdings in First Trust Managed Municipal ETF by 35.0% during the 1st quarter. Waverly Advisors LLC now owns 63,519 shares of the company’s stock valued at $3,218,000 after buying an additional 16,467 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.