First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Update

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 59,679 shares, an increase of 46.0% from the January 29th total of 40,869 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 144,271 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 144,271 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FMB. Jane Street Group LLC lifted its holdings in First Trust Managed Municipal ETF by 2,668.1% in the first quarter. Jane Street Group LLC now owns 189,530 shares of the company’s stock valued at $9,557,000 after buying an additional 182,683 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of First Trust Managed Municipal ETF by 4.9% in the 2nd quarter. Arkadios Wealth Advisors now owns 18,242 shares of the company’s stock valued at $909,000 after purchasing an additional 848 shares during the period. Sigma Planning Corp boosted its position in shares of First Trust Managed Municipal ETF by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 38,617 shares of the company’s stock worth $1,924,000 after purchasing an additional 474 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of First Trust Managed Municipal ETF by 4.8% in the 2nd quarter. Westside Investment Management Inc. now owns 68,359 shares of the company’s stock worth $3,406,000 after purchasing an additional 3,100 shares during the last quarter. Finally, BCGM Wealth Management LLC grew its stake in shares of First Trust Managed Municipal ETF by 5.6% during the second quarter. BCGM Wealth Management LLC now owns 123,313 shares of the company’s stock worth $6,143,000 after purchasing an additional 6,568 shares during the period.

First Trust Managed Municipal ETF Stock Performance

Shares of First Trust Managed Municipal ETF stock traded down $0.13 during trading on Monday, reaching $51.86. The company’s stock had a trading volume of 140,768 shares, compared to its average volume of 167,017. First Trust Managed Municipal ETF has a one year low of $48.19 and a one year high of $52.03. The stock has a 50-day moving average price of $51.47 and a two-hundred day moving average price of $51.04.

First Trust Managed Municipal ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.155 per share. The ex-dividend date was Friday, February 20th. This is an increase from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%.

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.