Short Interest in First Trust Managed Municipal ETF (NASDAQ:FMB) Rises By 940.2%

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 147,892 shares, a growth of 940.2% from the February 26th total of 14,218 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 126,740 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of First Trust Managed Municipal ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of First Trust Managed Municipal ETF by 8.5% in the 4th quarter. LPL Financial LLC now owns 2,308,525 shares of the company’s stock valued at $118,046,000 after purchasing an additional 181,458 shares during the last quarter. UBS Group AG raised its stake in shares of First Trust Managed Municipal ETF by 2.1% during the fourth quarter. UBS Group AG now owns 1,836,968 shares of the company’s stock worth $93,933,000 after buying an additional 38,553 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of First Trust Managed Municipal ETF by 2.9% during the second quarter. Raymond James Financial Inc. now owns 1,191,423 shares of the company’s stock worth $59,357,000 after buying an additional 34,126 shares during the last quarter. Composition Wealth LLC lifted its holdings in First Trust Managed Municipal ETF by 8.7% in the fourth quarter. Composition Wealth LLC now owns 1,163,045 shares of the company’s stock valued at $59,472,000 after buying an additional 92,945 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in First Trust Managed Municipal ETF by 50.3% in the third quarter. Miracle Mile Advisors LLC now owns 1,070,100 shares of the company’s stock valued at $54,256,000 after acquiring an additional 358,121 shares during the last quarter.

First Trust Managed Municipal ETF Stock Down 0.6%

Shares of NASDAQ FMB traded down $0.29 during midday trading on Thursday, hitting $50.44. The stock had a trading volume of 65,211 shares, compared to its average volume of 154,354. First Trust Managed Municipal ETF has a fifty-two week low of $48.19 and a fifty-two week high of $52.03. The company’s 50-day simple moving average is $51.49 and its 200 day simple moving average is $51.22.

First Trust Managed Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were given a $0.155 dividend. The ex-dividend date was Friday, February 20th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a yield of 3.7%.

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.