First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Decrease in Short Interest

First Trust Managed Municipal ETF (NASDAQ:FMB) saw a large decline in short interest in the month of 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 company are sold short. Based on an average daily volume of 367,260 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FMB. Continuum Advisory LLC bought a new stake in shares of First Trust Managed Municipal ETF in the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC bought a new position in First Trust Managed Municipal ETF during the first quarter valued at $31,000. Ascentis Independent Advisors bought a new position in First Trust Managed Municipal ETF during the first quarter valued at $53,000. Hazlett Burt & Watson Inc. increased its position in First Trust Managed Municipal ETF by 38.9% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,250 shares of the company’s stock worth $64,000 after buying an additional 350 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in First Trust Managed Municipal ETF by 339.0% in the first quarter. Legacy Wealth Managment LLC ID now owns 1,374 shares of the company’s stock worth $70,000 after buying an additional 1,061 shares during the last quarter.

First Trust Managed Municipal ETF Price Performance

FMB traded down $0.16 during trading on Friday, hitting $48.09. 452,510 shares of the company traded hands, compared to its average volume of 178,570. The stock’s fifty day moving average is $49.93 and its 200 day moving average is $50.71. First Trust Managed Municipal ETF has a one year low of $47.96 and a one year 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 paid a $0.1590 dividend. The ex-dividend date is Thursday, September 24th. This is a positive change from First Trust Managed Municipal ETF’s previous monthly dividend of $0.1580. This represents a $1.91 dividend on an annualized basis and a yield of 4.0%.

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.