First Trust Managed Municipal ETF (NASDAQ:FMB) Short Interest Down 70.0% in July

First Trust Managed Municipal ETF (NASDAQ:FMB) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 16,794 shares, a drop of 70.0% from the July 15th total of 56,048 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 174,598 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust Managed Municipal ETF

A number of institutional investors have recently bought and sold shares of the business. Frazier Financial Advisors LLC acquired a new position in shares of First Trust Managed Municipal ETF in the 1st quarter valued at about $31,000. PNC Financial Services Group Inc. acquired a new stake in shares of First Trust Managed Municipal ETF during the third quarter worth approximately $51,000. Ascentis Independent Advisors acquired a new stake in shares of First Trust Managed Municipal ETF during the first quarter worth approximately $53,000. Tucker Asset Management LLC purchased a new position in First Trust Managed Municipal ETF during the fourth quarter valued at approximately $54,000. Finally, Hazlett Burt & Watson Inc. grew its position in First Trust Managed Municipal ETF by 38.9% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock valued at $64,000 after purchasing an additional 350 shares in the last quarter.

First Trust Managed Municipal ETF Price Performance

FMB stock traded down $0.10 during mid-day trading on Friday, reaching $50.62. 93,183 shares of the stock traded hands, compared to its average volume of 150,733. First Trust Managed Municipal ETF has a 52-week low of $49.49 and a 52-week high of $52.03. The stock’s fifty day moving average is $50.98 and its 200-day moving average is $51.15.

First Trust Managed Municipal ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 21st were given a dividend of $0.157 per share. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 21st.

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.