Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Drops By 6.2%

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 86,700 shares, a drop of 6.2% from the September 15th total of 92,400 shares. Based on an average trading volume of 158,000 shares, the short-interest ratio is currently 0.5 days.

First Trust Managed Municipal ETF Stock Performance

Shares of NASDAQ FMB traded down $0.06 during trading on Thursday, reaching $51.74. 59,393 shares of the company traded hands, compared to its average volume of 154,149. The firm’s fifty day simple moving average is $51.79 and its 200 day simple moving average is $51.36. First Trust Managed Municipal ETF has a 12-month low of $48.08 and a 12-month high of $52.13.

First Trust Managed Municipal ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.139 per share. The ex-dividend date was Thursday, September 26th. This is a positive change from First Trust Managed Municipal ETF’s previous dividend of $0.14.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Institutional investors have recently modified their holdings of the stock. DHJJ Financial Advisors Ltd. raised its stake in shares of First Trust Managed Municipal ETF by 119.4% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 790 shares of the company’s stock valued at $40,000 after buying an additional 430 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at about $51,000. IAG Wealth Partners LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at about $53,000. WR Wealth Planners LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at about $56,000. Finally, International Assets Investment Management LLC purchased a new position in shares of First Trust Managed Municipal ETF in the 2nd quarter valued at about $112,000.

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.